Dunhill FY23 losses widen but revenue rises

Richemont-owned Dunhill has seen its revenues take a subtle climb for the fiscal year 2023, jumping from 33.21 million pounds in the year prior to 36.36 million pounds in the current period.

Despite this, the accounts, filed in the UK’s Companies House, did show widening losses, rising from 22.056 million pounds to 37.93 million pounds.

Operating losses came to 49.13 million pounds, an increase on its previously reported 35.91 million pounds.

This came in contrast to the strong financials reported by Dunhill’s parent company Richemont for the third quarter, where sales grew by 6 percent at actual exchange rates, with increases also seen across all regions.

The report comes on the heels of a series of leadership changes at Dunhill, which this year had announced the appointment of a new creative director, Simon Holloway.

Most recently, however, the brand’s chief executive officer, Laurent Malecaze, had revealed his intention to step down from the helm position in place of taking on the same role at sister company Chloé.

During his two years at Dunhill, Malecaze was credited with overseeing a successful turnaround of the business, bringing forth his ability to energise an organisation.

At the time of the announcement, Richemont noted that a new CEO of Dunhill would be announced in due course.