Rolling Stone (and Kate Moss) help Liberty get back into the black
Department store Liberty has defied the recession and recorded its best performance in more than 10 years.
Company accounts today show its underlying financial position is back into the black for the first time since 1999 after a series of collaborations with big-name labels and designers.
The shop's avant-garde heritage was revived last year when Turner Prize-winning artist Grayson Perry created a range of fabrics, playing with Liberty's traditional motifs, and Rolling Stone Ronnie Wood designed clothes.
Kate Moss used Liberty's traditional cloth in her collection for Topshop last year, while French label Hermès and Italian brand Corso Como produced items bearing modern takes on Liberty's signature graphics. This autumn will see a collaboration with shoe designer Manolo Blahnik.
The partnerships have helped the 135-year-old shop draw in younger shoppers less affected by the slump, chief executive Geoffroy de la Bourdonnaye said.
Today's accounts show Liberty's underlying financial performance was in positive territory for the year to 31 December after a loss of £3.9million the year before.
Full-year sales rose by 20 per cent last year to £59.6million compared with £49.9 million in 2008. Liberty has received several takeover approaches this month and could be valued at up to £70million.
