With a 317.9 million pound (about 400 million euro) yearly turnover, British luxury shoe brand Jimmy Choo outperformed 2014 by 7.2 %, thanks to the Asian markets.
Big in Japan
“Jimmy Choo continues to outpace the sector despite the challenging competitive environment“, a satisfied Jimmy Choo Chairman, Peter Harf, said. The British luxury brand, known for its often extravagant shoes, managed a 51 million pound (65 million euro) operational profit over the past year, up 1.5 % compared to 2014.
“The Company successfully reversed the first half decline in wholesale revenues and remains on track with growth forecasts in Asia and Japan where brand awareness continues to grow strongly.” Turnover for its wholesale division grew 1.3 % at level exchange rates while its own retail channel added another 8.7 % in turnover, reaching 207.7 million pounds, about 260 million euro.
Jimmy Choo’s Japanese turnover (at level exchange rates) grew an astonishing 29 %, which is thanks to increased local demand and the fact that Chinese tourists preferred to do their shopping in Tokyo than in Paris, something Hermès also noticed. In the rest of Asia, turnover grew 20.1 %, boosted by new stores in China (13 new stores in total in the past fiscal year). The effects of the Paris terrorist attacks, keeping away Chinese and Russian tourists, were partially offset thanks to the weaker euro, the company said.
