Belfast Telegraph

Jimmy Choo revenues jump bolstered by growth in men's products

Designer shoe brand Jimmy Choo notched up record full-year revenue last year as it trumpeted growth in its menswear division.

The company said revenue in the year to December 31 grew 15% to £364 million, up 2% on a constant currency basis.

Jimmy Choo said that while shoe sales make up 75% of its sales, men's products - such as shoes and accessories - is its fastest growing category, accounting for around 9% of revenue.

It also said that its accessories arm benefited from the development of its Lockett range of bags.

Boss Pierre Denis said: "In our 20th anniversary year, we have continued to grow and to build on the strength of the brand.

"We look forward to 2017 as we continue to deliver on our strategy of growth through the development of our collections, fashion leadership and the controlled expansion of our distribution network."

Retail revenue rose 17% to £244 million in the year and Jimmy Choo flagged that a stronger fourth quarter helped like-for-like sales increase 2% in the second half. Overall, like-for-like sales fell 1%.

The firm said that strong growth in Asia, solid growth in Europe and Japan and improving trends in US retail was offset by the planned reduction in its US wholesale operation.

Following the Brexit vote, Jimmy Choo said in August it stands to benefit from the collapse in sterling.

The group said the pound's devaluation will lead to an "upside in business performance at a revenue and profit level".

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