Sunday, 25 January 2015

Jimmy Choo sales soar after glittery shoe sell-out

Luxury shoe maker Jimmy Choo has reported a like-for-like sales increase of 5.7pc, defying concerns of slowing demand for luxury goods in Asia.

In its first trading update since listing on the London Stock Exchange in October 2014, Jimmy Choo said net revenue jumped by 12pc to £299m last year.
The company said it had performed particularly well in China, with shoes the main driver of the growth.

"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."

Earlier this month, it was revealed that Game of Thrones star Kit Harington will be new face of Jimmy Choo's spring/summer 2015 campaign.

Jimmy Choo was co-founded by British designer Tamara Mellon in 1996 and the brand became popular after appearing on Sex and the City.

Ms Mellon sold the company to private luxury goods group Labelux in 2011 for £525m, before JAB, which owns Labelux, took direct control of Jimmy Choo. The company made its stock market debut in October 2014.

Jimmy Choo's shares rose 4.1pc to 175p after today's trading update, and are up by 25pc since its market debut of 140p.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11365122/Jimmy-Choo-sales-soar-after-glittery-shoe-sell-out.html

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