- Prachi Singh |
Christian Louboutin got a dividend of 3 million pounds (3.9 million dollars) from its UK business in 2017 despite flat sales and falling profits. According to the accounts filed with the Companies House UK, for the year ending August 31, 2018, Christian Louboutin UK Limited, reported a moderate rise of 0.3 percent in turnover to 52.7 million pounds (69.2 million dollars) and drop in UK profits from 5.8 million pounds (7.6 million dollars) to 1.1million pounds (1.4 million dollars).
The company said that fall in sales reflects a more challenging retail environment in the UK and a strategic decision taken with regards to distribution of the Louboutin brand in the UK.
Gross profit for the year of 20 million pounds, represented 38 percent of the turnover compared to 47 percent in 2016. The company added that the 2017 result includes the impact of devaluation of sterling since the UK referendum on leaving the European Union in June 2016, which led to increase in purchasing cost.
Picture:Christian Louboutin UK website