Profits at King’s gown maker slump by more than 50%

Profits at the King’s gown maker have slumped by more than 50 per cent as the post-Covid boom fades.

Ede & Ravenscroft reported profits of £1.5m for the year to the end of September 2023, down from £3.4m the year before. Sales also dipped 6 per cent to £45.3m.

It follows a bumper 2022 for London’s oldest tailor as it cashed in on the return of in-person graduations, which were often larger due to the inclusion of students who finished studying in 2020 and 2021.

But the firm, which has made gowns for 12 coronations since being founded in 1689, said it was facing pressure from ‘increasing raw material prices’.

At his coronation King Charles wore the robe made for George VI when he was crowned in 1937.