Jimmy Choo revenues surged boosted by the Men shoes and Asian market

Jimmy Choo revenues surged boosted by the Men shoes and Asian market

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Top end shoe designer Jimmy Choo announced its sales in the first six months of the year surged dramatically amid difficult market condition.

The brand which got popularity by the character Carrie Bradshaw in Sex and the City said its adjusted earnings rose about 13% to £31.3m in the half-year to the end of June.

Company’s Revenues reached £173 million, up 9.2% compared with the same time last year. Operating profit was up 42.6% at £25m.

Also Men’s shoes are the fastest-growing sector for the brand, representing 8% of global revenue and firm has seen higher revenues, partly because of growing sales of men’s designs.

The company runs more than 140 stores around the globe, reportedly opened six new stores in the period. Company’s spokesperson said that in the second half of the year Jimmy Choo planned to open 10 further franchises in markets that include Qatar, Chile, Japan and Kazakhstan.

The company further said in its half-year report that the softness of the pound since the Brexit vote had also helped boost the company’s figures.

The brand which got popularity by the character Carrie Bradshaw in Sex and the City said its adjusted earnings rose about 13% to £31.3m in the half-year to the end of June.

The Company, which also sells bags and accessories, was founded by former Vogue accessories editor Tamara Mellon and Malaysian designer Jimmy Choo, who opened their first store in 1996.

According to report, geographically the sales figures were mixed. “Geopolitical events” in Europe have damaged sales there, while the brand struggled in the US, with sales down 3.4%. However its revenues in Asian markets rose, predominantly in China.

Company’s Chairman Peter Harf said: “This is an impressive set of results and it is of great credit to Pierre Denis and his talented teams that they have achieved both growth and margin expansion in such challenging market conditions.”

 

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