Saturday, September 26, 2020

Jimmy Choo posts record revenue for 2016


Jimmy Choo has recorded another year of record revenue for the full-year ending December 31, with “strong growth” in Asia and “continued solid growth in Europe and Japan.

The luxury British retailer raked in revenues of £364 million in 2016, a 15 per cent increase on the previous year, with shoes accounting for 75 per cent of the revenue.

The revenue from Jimmy Choo‘s retail arm grew 17 per cent to £244 million, thanks to a strong final quarter that resulted in second half like-for-likes improving by two per cent – but like-for-like sales for the whole year was down by one per cent due to renovation programme and adjustments in global prices.

Meanwhile, its wholesale revenue increased by eight per cent to £107 million and online represented six per cent of Jimmy Choo‘s revenue.

READ MORE: Jimmy Choo enters second half on back of strong trading results

The high-end shoe and accessories retailer also opened nine directly-operated stores in 2016, while a further 16 were renovated.

“In our 20th anniversary year, we have continued to grow and to build on the strength of the brand,” chief executive Pierre Denis said.

“I would like to thank all my colleagues for their hard work in delivering this excellent performance. 

“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.”

Jimmy Choo anticipated delivering underlying profits in line with expectations for 2016 and will present 2016‘s preliminary results on March 2.

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