Jimmy Choo reports 7.2 percent increase in annual revenues

Jimmy Choo, British luxury brand specialising in shoes and accessories, announcing its preliminary results for the year ended December 31, 2015 said that revenues increased 7.2 percent on a constant currency basis and consolidated net income increased 30.2 million pounds (42.8 million dollars) to reach 19.4 million pounds (27.5 million dollars).

“Jimmy Choo made excellent progress in 2015, delivering sustained renovation of the retail portfolio whilst continually evolving the product mix and meeting development targets. Designs led by our Creative Director, Sandra Choi, have been warmly received by clients and critics and are a key factor in the growing global appeal of our brand. We are particularly pleased to report positive consolidated net income of 19.4 million pounds compared to a loss of 10.8 million pounds last year,” said Pierre Denis, CEO of Jimmy Choo.

Adjusted EBITDA increased 1.5 percent. The company witnessed strong performance in Asia and Japan. It added 13 new Directly Operated Stores (DOS), in addition to the successful conversion of three franchise stores to DOS in Singapore and Malaysia.

Added Peter Harf, Chairman of Jimmy Choo, saying, “Jimmy Choo continues to outpace the sector despite the challenging competitive environment. 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.”

 

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