When Kate Middleton stepped out in her royal wedding gown in April 2011, the man’s name on everyone’s lips was Alexander McQueen. The Duchess of Cambridge looked breathtaking in the Sarah Burton design and it had everyone saying, “Prince Willi-who?”
This morning, Alexander McQueen announced an annual profit of $8 million and sales of $66.1 million for the fiscal year ending December 31, 2011 from British, American, and Italian stores and wholesale markets alone. The overall figures are significantly higher considering this number doesn’t even include sales from Alexander McQueen’s other stores and wholesale businesses around the globe, just those three locations.
The most obvious explanation for this boost is that aforementioned wedding gown Kate wore down the royal aisle, which gave the label some Superbowl levels of publicity for the fashion house and made it a household name.
In the director’s report, the company credits the impact of the dress and added, “As a fashion and lifestyle company, every new season confronts the brand with the risks that the new collections may be received less positively than anticipated…Constant market observation and regular attendance of international fashion events ensure that trends are identified early on to serve as a basis for the collection development. Moreover, Sarah Burton's unanimously acclaimed first collections confirmed the brand deals appropriately with this risk."
These healthy profits now mean McQueen furthers the divide between itself and another British McContemporary Stella McCartney.