Jimmy Choo steps up its profit by 19 per cent
Sunday 08 July 2012
The demand for 5in-heeled Jimmy Choo shoes – as demonstrated recently by the Duchess of Cambridge, left – is showing no signs of waning, helping the luxury brand post a 19.2 per cent leap in profit. The shoe empire has delivered a pre-tax profit of £26.9m and a 34 per cent leap in turnover to £166.8m for the year to December 31.
Despite the strong results the brand has faced management upheaval. It was bought last year by Labelux, a luxury goods company backed by Germany's Reimann family who made their money from household goods giant Reckitt Benckiser.
Following the sale, Labelux said in November that Choo's creative director Tamara Mellon – the former fashion journalist and "It" girl who turned the East End boutique business into a global shoe empire – was leaving.
Its chief executive Joshua Schulman followed her out the door in May. The luxury brand is now searching for a new chief executive to work alongside creative directors Sandra Choi and Simon Holloway.
The brand, which recently opened new stores in San Francisco, Hong Kong and Amsterdam, has expanded its range to sell handbags, glasses, scarves, belts, perfume and has recently launched a men's shoe range.
Its growth plans for the year include targeting Chinese and Russian consumers.
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