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Jimmy Choo ready for ‘stronger marketplace’ in 2017

Luxury accessories brand Jimmy Choo said it is “well positioned” to make the most of a “stronger marketplace” in 2017 as its full year revenue increased.

The firm announced a 15% jump in revenues to £364m for the full year to 31 December 2016, fuelled by strong growth in Asia, Europe and Japan.

In its 20th anniversary year the business said it expects to deliver underlying profits in line with expectations and in 2017 it is seeing “improving trends across all regions.”

Retail revenues for the year were up 17% to £244m, however, like-for-like sales fell 1% for the year. Wholesale revenues were up 8% to £107m, but were impacted by reduced purchases from US-based department stores.

Shoes still equate to 75% of Jimmy Choo’s sales, with accessories making up the remainder.

Men’s is the firm’s fastest growing category and now accounts for 9% of the business. Jimmy Choo has scheduled the launch of men’s sunglasses and eyewear for 2018.

Online continues represents 6% of total revenue.

The brand is also rolling out new store concepts, refitting 16 during the year. A total of 45% of stores now feature the new design.

 

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