Phoebe Philo has filed its accounts for 2024 at Companies House and unlike some such filings, it includes projections for 2025 revenue, which is handy given that 2024 was still on some levels a start-up year for the business.
Phoebe Philo
So what do the accounts show us? In its second full year of operation, ie 2025, it said revenues have hit £32 million, showing how much the business has ramped up in the latest year, despite its relatively-low-key, slow-and-steady approach.
In its 2024 year, which these accounts cover, turnover was only just under £11.2 million, albeit a lot higher than the £5.2 million of the previous year. Gross profit was £5.7 million, up from £116,264, but the operating loss widened to just under £23.5 million from £21.6 million in 2023.
The loss both before and after tax was £24.38 million, a bigger loss than the £21.77 million of the previous year.
Such losses are only to be expected in the early stages of a company’s development.
The business explained that both 2023 and 2024 were “transformative foundation-building years” for it. And the year in question, which ended on 31 December 2024, actually marked only its first full year of sales. It was one in which the business said it “successfully laid the groundwork for long-term growth and powerful new revenue streams”.
It added that the year was instrumental in shaping its future trajectory as the expected turnover for 2025, which is three times the performance of 2024, shows.
So what has been happening in 2024 and 2025? Well, 2024 saw the launch of its e-commerce platform as well as wholesale development as it struck partnerships with big-name retailers in key global fashion capitals. This continued into 2025 and early last year it opened its first physical store in France, a 50-square-metre space on the first floor of Galeries Lafayette Haussmann in Paris. In November 2024, Phoebe Philo had opened its first shop-in-shop in London at Dover Street Market.
In late 2024, it also expanded into Asia Pacific, which continued in 2025 with physical store Chinese wholesale starting only last September.
It also said it has been seeing “encouraging early traction from distributors and high net worth clientele” in the region.
Some of its other achievements include its social media branding impression growing to 28,6 million in 2024, a 48% year-on-year increase, as well as a 28% return customer rate within the first 18 months of launch.
