Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Finance

Samantha Cameron to wind down Cefinn after years of losses

Cefinn, the womenswear brand founded by Samantha Cameron, is to be wound down after years of losses, bringing an end to a label once worn by the Princess of Wales and Queen Camilla.

Launched in 2017 as “an urban uniform for busy women”, Cefinn never turned a profit and has struggled in recent years with wholesale upheaval, fragile consumer confidence and post-Brexit tariffs. The collapse of key stockist Matches—put into administration by Frasers Group last year—dealt a further blow, forcing Cefinn to pivot more heavily to direct-to-consumer sales.

In a statement, Cameron, 54, said closing the brand was a “very hard decision”, despite “recently strong trading figures”, citing “turbulence in the fashion wholesale sector, ongoing cost pressures and international trading restrictions”. She added: “I have found it increasingly difficult to be certain that Cefinn can achieve the level of growth needed to reach a stable and profitable position.”

Cefinn’s two London stores on King’s Road and Elizabeth Street will remain open in the short term to sell autumn and winter collections, and are expected to close before spring. The company’s 24 employees are set to receive redundancy packages and paid notice.

Sales fell 5% to £4.2m in the year to October, while pre-tax losses narrowed only marginally to £354,000 from £357,000. The brand—named after the initials of the Camerons’ children (Ivan, Elwen, Florence and Nancy)—produced around 30 collections and was worn by celebrities including Gillian Anderson, Gabby Logan and Holly Willoughby. A former creative director at Smythson, Cameron had positioned Cefinn as a designer label offering luxury-level cut and quality at mid-market prices, expanding into more casualwear during the pandemic.

Cameron has previously said Brexit made survival “challenging and difficult”, pointing to trading friction and costs on international sales. Reports suggest she was owed more than £100,000 following the Matches administration. Cefinn had earlier received a significant cash injection from Conservative donor Lord Brownlow in 2018; it is understood Cameron chose not to seek further outside investment.

“Our amazing customers have made every year rewarding; their styling of Cefinn, loyalty and lovely feedback has been a constant source of inspiration,” she said.

    You May Also Like

    Finance

    Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

    Finance

    A majority of Britain’s millionaires believe they would enjoy a better quality of life overseas, as higher taxes and the rising cost of living...

    Finance

    Soho House, the exclusive members’ club chain that has become synonymous with celebrity culture and creative-class networking, is to return to private ownership in...

    Stock Markets

    A LINEMAN checks the wires on top of utility poles in Marikina City, July 17. — PHILIPPINE STAR/MIGUEL DE GUZMAN SMALL ELECTRICITY end-users will...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.