Designer shoe brand Jimmy Choo has seen higher revenues, partly because of increasing sales of men’s designs.
Men’s shoes are the fastest-growing sector for the brand, representing 8% of global revenue.
The company also said in its half-year report that the weakness of the pound since the Brexit vote had also helped boost the company’s figures.
Revenues hit £173m, up 9.2% compared with the same time last year. Operating profit was up 42.6% at £25m.
Geographically, the sales figures were mixed, according to the report.
“Geopolitical events” in Europe have damaged sales there, while the brand struggled in the US, with sales down 3.4%.
However, the Asian market continued to perform well, the company said.
China and Hong Kong both recorded growth and the company also saw improvements in Japan, with men’s sales again noted for their success.
Pound delight
The company said that as Jimmy Choo was a global business, it was “well placed to take advantage of market dynamics seen since the GBP devaluation”.
With 9.5% of global revenue in sterling and 28% of operating costs denominated in the currency, a weaker pound “will lead to a reported upside in business performance at a revenue and profit level”, the company said.
Despite a dip in pre-tax profits to £6.6m, down from just over £20m last year, chairman Peter Harf said “challenging market conditions” meant the results were “impressive”.
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Credit: BBC News
