18.7 C
London
Friday, August 7, 2020

Jimmy Choo sales outpace global competition

Must read

Valtteri Bottas to drive for Mercedes again next season

Valtteri Bottas has been retained by Mercedes for 2021. The Finnish driver heads into this weekend’s 70th Anniversary Grand Prix at Silverstone 30 points adrift...

Zinedine Zidane: Gareth Bale ‘didn’t want to play’ against Manchester City

Real Madrid coach Zinedine Zidane has said Gareth Bale opted to miss Friday’s Champions League clash against Manchester City. Wales international Bale has fallen out...

Ohio governor tests positive for coronavirus just before Donald Trump meeting

Ohio Governor Mike DeWine has tested positive for coronavirus, just ahead of a planned meeting with President Donald Trump. The Republican governor’s office said that...

Eurotunnel sees demand return quicker than airlines

Demand for car-carrying Channel Tunnel trains is returning to pre-coronavirus pandemic levels quicker than air travel, new figures show. Some 233,172 passenger vehicles were carried...

British designer shoe brand Jimmy Choo shrugged off the woes in the luxury goods sector to post higher annual sales and earnings.

The group said strong growth in Asia and Japan helped retail like-for-like sales rise 1.1% in 2015, while underlying earnings lifted 1.5% to £51m.

The results defy the gloom in the wider luxury sector that has hit rivals such as Burberry, which has suffered as China’s economy has slowed.

Peter Harf, chairman of Jimmy Choo, said: “Jimmy Choo continues to outpace the sector despite the challenging competitive environment.”

He said the company had “successfully reversed the first-half decline in wholesale revenues and remains on track with growth forecasts in Asia and Japan where brand awareness continues to grow strongly”.

But in a note of caution, chief executive Pierre Denis added: “We approach 2016 sensitive to the many challenges facing the sector.”

Overall revenues rose 6.1%, or 7.2% with currency movements stripped out.

Sales surged by 29% in Japan and by 20.1% across the rest of Asia, while growth was more muted at 4.9% across Europe, the Middle East and Africa (EMEA)
Sales fell by 0.7% in the Americas region.

Whereas Burberry has been hit by falling spending by Chinese tourists in some of its markets, Jimmy Choo said it saw strong growth in international customers, including from China.

But it said there had been a fall in spending by Russian customers across the EMEA region.

The group’s retail operations still make up the bulk of its revenues – at 65.3% – but fragrance and eyewear account for 3.3% of turnover.

It launched its first men’s fragrance – Jimmy Choo Man – in 2014 and its third women’s fragrance, Illicit, last August.

The business, which also sells bags and accessories, was founded by former Vogue accessories editor Tamara Mellon and Malaysian designer Jimmy Choo who opened their first store in 1996.

The company’s shoes were made famous by the character Carrie Bradshaw in the hit US TV show Sex and the City.

- Advertisement -

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article

Valtteri Bottas to drive for Mercedes again next season

Valtteri Bottas has been retained by Mercedes for 2021. The Finnish driver heads into this weekend’s 70th Anniversary Grand Prix at Silverstone 30 points adrift...

Zinedine Zidane: Gareth Bale ‘didn’t want to play’ against Manchester City

Real Madrid coach Zinedine Zidane has said Gareth Bale opted to miss Friday’s Champions League clash against Manchester City. Wales international Bale has fallen out...

Ohio governor tests positive for coronavirus just before Donald Trump meeting

Ohio Governor Mike DeWine has tested positive for coronavirus, just ahead of a planned meeting with President Donald Trump. The Republican governor’s office said that...

Eurotunnel sees demand return quicker than airlines

Demand for car-carrying Channel Tunnel trains is returning to pre-coronavirus pandemic levels quicker than air travel, new figures show. Some 233,172 passenger vehicles were carried...

Macron urges reform as Lebanese officials seek to shift blame over blast

Lebanese officials targeted in the investigation into the massive blast that tore through Beirut have sought to shift blame for the presence of explosives...
%d bloggers like this: