Vivienne Westwood, the eponymous designer label of the fashion designer, has seen profits fall after a difficult year.

According to accounts filed at Companies House, the business cited that “2014 had been…challenging” and that “margins are still under pressure due to the nature of wider retail conditions”

The British fashion house sold £32m worth of clothes, leather goods and perfume in 2014, an 8.4% rise on the previous year, but pre-tax profits fell to £2.9m from £3.2m the year before.

The brand has said that it is looking at opening new stores in the North and working on repositioning the discernment of its main fashion lines and lower priced ranges, as well as redeveloping its ecommerce business.

The company has been the subject of controversy after it paid £1.6m in licence fees to its Luxembourg parent company Latimo SA.