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Jimmy Choo’s annual revenues increase 15 percent

By Prachi Singh

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Report

Jimmy Choo has said that the company reported another year of record revenue for the year ended December 31, 2016 with strong growth in Asia, continued solid growth in Europe and Japan and improving trends in US retail offset by the planned reduction in US wholesale. Revenue of 364 million pounds (456 million dollars) increased 15 percent and 2 percent at constant currency. Retail revenue grew 17 percent or 4 percent at constant currency to 244 million pounds (306 million dollars).

Commenting on the company’s trading, Pierre Denis, CEO of Jimmy Choo, said: “In our 20th anniversary year, we have continued to grow and to build on the strength of the brand. 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.”

Wholesale revenues increase 8 percent

A stronger final quarter resulted in like for like (LFL) in the second half improving to 2 percent and an overall LFL for the year down 1 percent. Wholesale revenue grew 8 percent but decline 4 percent at constant currency to 107 million pounds (134 million dollars) with the planned reduced purchasing by USA department stores offset by growth across all other regions. Directly operated stores (DOS) count increased by 9 in the year and 16 further DOS were renovated in the New Store Concept.

The company anticipates delivering underlying profits in line with expectations for 2016. Jimmy Choo said, with improving trends across all regions combined with the company’s sustained investment plan give it confidence that the company will deliver on the strong current growth expectations for 2017.

Picture:Jimmy Choo SS17

Jimmy Choo