Jimmy Choo revenue up 12% boosted by growth in Asia
Luxury footwear brand Jimmy Choo has reported that its revenue grew by 12% at constant currency to £299.1 million in the year to end December.
In its first results announcement since its IPO in October, the brand said that retail revenue increased by 15.4% at constant currency despite what it described as a challenging year for the industry.
Growth was driven by a strong performance in both ladies' and men's shoes and by new store openings, particularly in China.
Asia was the brand’s strongest growth region where an increasing brand penetration helped to drive like-for-like sales.
Jimmy Choo opened ten new stores in the year and closed one to take the total number of directly operated stores to 125 at the end of the year.
Like for-like sales increased by 5.7% at constant currency despite the impact of the brand’s store refurbishment programme, which included the closure of its New Bond Street flagship for half of the year.
Jimmy Choo chief executive Pierre Denis said: "We are delighted with this record net revenue performance, with a mix of like-for-like, retail and wholesale growth underlined by the success of our products. Our focus on shoes and dedication to product quality has ensured we produced innovative products which resonate strongly with our clients around the world."
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