World Footwear

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Jimmy Choo recovers to positive ground

Jun 24, 2016 United Kingdom
Jimmy Choo recovers to positive ground
Jimmy Choo PLC, the British luxury brand specialising in shoes and accessories, announced its results for the year ended on the 31st of December 2015
“Jimmy Choo made excellent progress in 2015, delivering sustained renovation of the retail portfolio whilst continually evolving the product mix and meeting development targets. Our teams work hard to deliver products of the highest quality and innovation whilst designs led by our Creative Director, Sandra Choi, have been warmly received by clients and critics and are a key factor in the growing global appeal of our brand", commented Pierre Denis, CEO of Jimmy Choo PLC.

Notwithstanding, Denis confirmed the company is approaching 2016 sensitive to the many challenges faced by the sector: "our teams continue to work hard to execute our growth strategy, without compromising our brand or its luxury position. We will continuously improve our operating efficiency and manage our costs to deliver margin improvement and good cash generation.”

2015 was confirmed as a year of continued and consistent growth for Jimmy Choo, with a strong performance in particular in Asia and Japan. The ongoing expansion of the retail and wholesale channels and the continued roll out of the successful new store concept let to revenue growing at a 7.2% rate, at constant currency, reaching 317.9 million British Pounds.

Retail revenue grew by 8.7% at constant currency, giving like-for-like growth of 1.1% despite the challenging competitive environment.

Consolidated net income increased 30.2 million British Pounds, with a loss of 10.8 million British Pounds in 2014 turning into profit of 19.4 million British Pounds in 2015.

During the last financial year the company opened a net 13 new Directly Operated Stores (DOS),  in addition to the successful conversion of 3 franchise stores to DOS in Singapore and Malaysia.

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