Osborne & Little
| Traded as | Osborne & Little |
|---|---|
| Industry | wallpaper fabric, interiors products |
| Founded | London, England (1968) |
| Founder |
Sir Peter Osborne Antony Little |
| Headquarters | London, England |
| Website |
www |
Osborne & Little is a British manufacturer and retailer of upmarket wallpaper and fabrics. It was established in 1968 and now has showrooms worldwide.[1] It was among the brands included in the Victoria and Albert Museum's British Design 1948–2012: Innovation in the Modern Age exhibition in 2012.[2]
History
Osborne & Little was established by Sir Peter Osborne (father of Conservative Party politician George Osborne) and his brother-in-law Antony Little.[3] The company's shop, in the King's Road, Chelsea, put it in the heart of Swinging London.[4]
Little was the designer – he had been responsible for Biba's distinctive black and gold logo – and created most of the company's early ranges.[3] Hand-printed papers were inspired by everything from the designs of Aubrey Beardsley to the Brighton Pavilion[3][4] Its success in reinterpreting classic designs in new ways during the 1970s and '80s meant that Little soon presided over a large design team. In the book Twentieth Century Pattern Design, Lesley Jackson described the brand as distinctive for its bold reinterpretations of traditional patterns, adding: "historical references tend to be lateral rather than literal".[5]
Expansion
The company took over Isabel Tisdall's Tamesa Fabrics in 1985 and later acquired the distribution rights to Lorca fabrics and Liberty Furnishings.[5][6] It has a longstanding association with interior designer Nina Campbell, distributing her collections.[7][8] The company has a wholly owned US subsidiary and showrooms across Europe, in addition to retailing via UK stores such as John Lewis.[9] Its high-profile clients have included Bill and Hillary Clinton, who used Osborne & Little designs in their private apartment at the White House.[3]
The company was formerly listed on the London Stock Exchange, delisting in 2003; it had a turnover of almost £33m in 2011, with a quarter of this coming from sales in mainland Europe.[10] Little retired from the business in 2005 and Osborne remains CEO. Former Chancellor of the Exchequer George Osborne retains a shareholding in the company.[3][11]
Tax 'deferral'
The company recorded a pre-tax profit of £722,000 on turnover of £34 million in 2014/5. The highest paid director, possibly Peter Osborne, was paid £684,000. Using the 2014/15 UK income tax calculator reveals this would result in combined income tax and national insurance deductions of £310,838.28.[12]
In 2015 it was revealed by Private Eye that, despite having made a pre-tax profit of £722,000, the company paid no corporation tax for the year 2015 – thereby avoiding a "tax bill" of £179,000.[13] The magazine also revealed that the company had not paid any corporation tax since 2008 and had even received a tax credit of £12,000 in the year 2010.[13] This was due to the company making losses totalling £9 million between 2009 and 2014, which allow the carry forward of credits for losses against the 2015 corporation tax bill. Despite these substantial losses, the companies' directors collected £1.2million in the year 2012 alone. [14] The former Chancellor of the Exchequer, George Osborne, owns a 15% stake in the company, which is estimated to be worth between 15 and 30 million pounds.[14]
Design collaborations
Osborne & Little has collaborated with a number of other British fashion and textile designers over the years, including Zandra Rhodes, Neisha Crosland and Matthew Williamson.[5][15][16]
References
- ↑ Staff (8 January 2014). "Passnotes: Osborne & Little: is George's humble family wallpaper firm in trouble?". The Guardian. Retrieved 12 July 2014.
- ↑ staff (29 March 2012). "The mini-dress and the E-type: design classics at the V&A". The Week. Retrieved 12 July 2014.
- 1 2 3 4 5 Lutyens, Dominic (12 July 2009). "Blow the Budget". The Observer. Retrieved 12 July 2014.
- 1 2 McSmith, Andy (19 June 2010). "George Osborne: A silver spoon for the golden boy". The Independent. Retrieved 12 July 2014.
- 1 2 3 Jackson, Lesley (2007). Twentieth Century Pattern Design. Princeton Architectural Press. p. 203. ISBN 9781568983332. Retrieved 12 July 2014.
- ↑ Schoeser, Mary. "Isabel Tisdall" (12 October 2007). The Guardian. Retrieved 12 July 2014.
- ↑ Sinclair, Emma (21 January 2013). "Feminine wiles: Nina Campbell and those heart-shape glasses". Daily Telegraph. Retrieved 12 July 2014.
- ↑ staff (16 May 2010). "Interview: Nina Campbell, interior designer". The Scotsman. Retrieved 12 July 2014.
- ↑ Russell, Jonathan (23 December 2012). "George Osborne's family firm in fourth annual loss". Daily Telegraph. Retrieved 12 July 2014.
- ↑ Tyler, Richard (22 December 2011). "George Osborne's family business makes a loss as the weak economy takes its toll". Daily Telegraph. Retrieved 12 July 2014.
- ↑ Londoners' Diary (11 April 2012). "George Osborne's tax crusade should begin at home". Evening Standard. Retrieved 12 July 2014.
- ↑ "Salary Calculator Pro: 2016/17 Income Tax Calculator". Salaryis.com. Retrieved 2016-10-03.
- 1 2
- 1 2 "Osborne & Little: is George's humble family wallpaper firm in trouble? | Politics". The Guardian. Retrieved 2016-10-03.
- ↑ staff (1 December 2010). "Women in interiors: Neisha Crosland's top tips for autumn/winter 2011". Red. Retrieved 12 July 2014.
- ↑ Milligan, Lauren (28 August 2013). "The prince of prints takes over your home". Vogue. Retrieved 12 July 2014.
