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Jimmy Choo increases earnings as it expands into Asia

Luxury shoe brand Jimmy Choo has reported that like-for-like retail sales rose by 5.7% in the year to 31 December.

GENERAL MERCHANDISE

Jimmy Choo increases earnings as it expands into Asia

Luxury shoe brand Jimmy Choo has reported that like-for-like retail sales rose by 5.7% in the year to 31 December.

In its first full-year results since floating on the London Stock Exchange last year, Jimmy Choo said adjusted EBITDA was £50.2 million compared to £46.9 million in 2013.

Jimmy Choo chief executive Pierre Denis said: "This has been a year of great financial, strategic and operational progress for the company.

“With our unique DNA and experienced team we have continued to deliver products that resonate strongly with our clients. As a specialist brand we have invested to outperform in this attractive and complex category thus delivering operating leverage. We are expanding in Asia and selected new markets where we are underpenetrated compared to our peers. Our investment programme in new DOS and our new concept has continued.”

During the period, Jimmy Choo opened nine new directly operated stores, half of which were in China. The company also rolled out a new store concept, with 10 existing stores renovated or relocated in the year and a total of 15 stores trading in the new concept at the year end.

Denis added: “We remain focused on executing our growth strategy and pursuing growth without compromising our brand or its luxury position despite the more challenging macroeconomic environment."

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