Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Christian Louboutin UK blames Brexit for slow sales

Christian Louboutin UK has reported a 4.8% decline in revenues to £50.2m for the year to 31 August 2018, blaming ongoing Brexit uncertainty.

Gross profit rose 3.7% to £20.7m, which the company said reflected the strong performance of its collections.

Its pre-tax profit was up 9% to £1.2m and shareholders received a £3m dividend. 

The cost of sales decreased from £32.6m in 2016/17 to £29.4m. 

Louboutin UK said in its strategic end of year report: “The UK retail environment remains challenging, both in standalone boutiques and also in department stores.

”The ongoing uncertainty regarding the future relationship of the UK with the European Union, and around the eventual timing of the UK’s departure from the EU, have both contributed to downward pressure on like-for-like sales.”

Directors Bruno Chambelland, Christian Louboutin and Alexis Mourot said they remain confident that the business will return to sales growth in the long term.

Christian Louboutin operates three standalone stores in the UK. It also has shop-in-shops at Selfridges in London, Birmingham and Manchester, as well as Harrods and Harvey Nichols

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.