Jimmy Choo’s revenue walks tall in ‘challenging’ market
Many luxury brands are complaining that the economic slowdown in China has hit their sales – but not Jimmy Choo.
The brand seen on the feet of many celebrities and royalty said new store openings and trading in all areas had driven growth, especially in China.
Chief executive Pierre Denis said “continuing strength” in China put the firm on course for “another record year despite the challenging backdrop”.
Investors liked what they heard, sending Jimmy Choo shares up 4.5%.
The light fantastic
The company, which is celebrating its 20th anniversary, said in a trading update that the weaker pound had helped UK sales. The favourable exchange has attracted more tourists to the UK.
Jimmy Choo said that since 30 June it had opened four new directly-operated store. The company has also been investing heavily in store refurbishments, including the flagship outlet in Milan which was closed for two months.
The brand said that despite this disruption, like-for-like sales in the second half of the year have moved back into positive territory.
Jimmy Choo produces a wide range of luxury items from handbags and scarves to sunglasses and perfume, but its shoes remain at its core.
Its footwear is often seen on the red carpet worn by celebrities such as Jennifer Lopez and Bella Hadid.
Kate Middleton is also a fan.