Ede & Ravenscroft returns a £3m profit after a run of annual losses
Sales at the King’s gown maker have surged by more than 300pc following the return of in-person university graduations after the pandemic.
Ede & Ravenscroft, London’s oldest tailor, lost millions of pounds worth of business after hundreds of graduation ceremonies were cancelled due to the coronavirus, promoting it to warn over the loss of 200 jobs in 2020.
The sale and hire of mortar boards and robes for graduations, as well as photography for these events, makes up a substantial portion of Ede & Ravenscroft’s trade.
However, as in-person graduations returned in 2022, revenues surged from £12.7m to £53.1m over the year to September 30 2022 – a 316pc rise.