Flairline Fashions bounces back into the black

THE fashion company which runs Pamela Scott bounced into the black last year.

Flairline Fashions, which also runs the Richard Allen stores in Ireland, recorded a pre-tax profit of €725,068 in the year to the end of August 2008, after a loss of €2.5 million in the previous year. Turnover in the year was €11.6m from €11.5m in 2007.

The directors said that, as a result of the deterioration of the economic climate, properties held by the company have fallen in value by €1.6m at the end of April 2009.

The company has properties in South William Street, Sandymount and Mount Merrion Avenue.

Despite this, rental profit was up from €21,386 to €62,372.

The company employed 37 people in the year, the same as the previous year, but staff costs increased slightly from €1.3m to €1.4m.

The company said it achieved a “satisfactory trading performance” for the year under review. It said risks facing the company include the reduction in business levels due to the economic downturn affecting consumer spending and confidence.

It also said increasing price competitiveness with the industry and a reduction in the market values of the investment properties are uncertainties facing the firm.

“Such risks are managed by ongoing promotion of the company’s products and tight control costs,” the accounts read.

“The directors intend to continue to promote the business and evaluate further opportunities for the company.”

Flairline Fashions is owned by 72-year-old Sean Barron and his family.

Mr Barron founded Flairline Fashions in the 1970s and has built the company into one of Ireland’s most successful retail chains.

Mr Barron started off with the upmarket Pamela Scott brand before buying the three Richard Allen stores. He also owns Ireland’s first Escada outlet, which was officially opened by then taoiseach Bertie Ahern. His son, Scott, who is also involved with the company, played Davis Cup for Ireland for more than a decade from 1990, going professional when he left school in 1991, and representing Ireland at the Olympic Games in Atlanta in 1996.

Before retiring from the game in 2000, he played the Australian Open and Wimbledon in 1999, finishing his career at 263 in the ATP world tennis rankings.