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Kate, the Princess of Wales‘s parents’ business, Party Pieces, suffered a £285,506 loss last year. The company, which sells party accessories online, had a net deficit on the balance sheet of £1.35million after taking a loss of £285,506 in 2021. Carole and Michael Middleton own just over half of the business.
Lingerie tycoon Steven Brentwood and Darryl Eales are also listed as shareholders.
A business review at the end of the accounts reports: “During the year, the company has seen an impressive 18 per cent increase in retail revenue despite a challenging time for UK retailers.
“The post-tax loss represents the continued investment in the company’s growth plans, including the launch of a wholesale division and the opening of new territories in the U.S., Europe and Middle East.”
But it adds that the “first 6 months of the year was hampered by a national lockdown, which restricted social events and gatherings.
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“Despite this, the company continued it’s growth plans and increased turnover by 30 percent versus the comparable period in the previous year.”
Earlier this year, the company launched a new range, thought to be inspired by the Princess of Wales.
Ms Middleton, the mother of the future Queen, fittingly titled her new kids’ range: “King and Queen of the Sea”.
She launched the new items under her partyware brand Party Pieces.
The range boasts that it is 100 percent eco-friendly, recyclable or reusable, with proceeds going towards conservation charity Big Blue Ocean Cleanup.
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Speaking about the new collection, Ms Middleton said: “I am excited to be supporting the incredible work that Big Blue Ocean Cleanup does to protect our oceans.
“At Party Pieces we want to make it easier for people to celebrate consciously – our new sustainably-sourced ranges help to protect the planet without compromising on the magic of parties.”
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It adds: “Big Blue Ocean Cleanup works to prevent, protect and to minimise disturbance from human development and climate change.
“We envision healthy oceans in which humanity is forever committed to caring for and appreciating our blue planet, our global marine biodiversity, for the long-term benefit of people and all life on Earth.”
Ms Middleton started the party supplies company after searching for decorations for the Princess of Wales’ fifth birthday party.
“I realised there was a gap in the market for partyware that wasn’t too expensive and which looked good, so [I] decided to design my own.
“My children continue to inspire me and, as they have grown up, our brand has evolved.”
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