Jimmy Choo enjoys revenue growth as Chinese opt for designer shoes

The designer label saw like-for like sales jump 5.7% last year

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The Independent Online

Luxury shoemaker Jimmy Choo, whose shoes have proved a hit with such superstars as Jessica Alba, Diane Kruger and the Duchess of Cambridge, has cashed in on wealthy Chinese spenders' demand for expensive footwear.

The designer label saw like-for like sales jump 5.7 per cent last year, helping it to become one of the biggest success stories of last year’s deluge of stock-market flotations.

The company’s shares were up 4.1 per cent on the news to 174.9p and have risen by 25 per cent since they listed back in October.

Bosses said its Asia expansion was going to plan, helping net revenues to rise 12 per cent to £299.1 million.

However, the devaluation of the Japanese yen did hit revenues in a country where Jimmy Choo has a strong following.

Men’s shoes - where an average pair costs nearly £500 - were one of the areas which witnessed the fastest growth.

However, it remains only a small part of the business which is dominated by women's shoes.

In the UK, its three-storey shop in New Bond Street reopened after a renovation and 15 new "concept" branches were also rolled out around the world.

Chief executive Pierre Denis said the company now plans to open between 10 and 15 stores a year, using the money raised from the stock market listing to help expand further - particularly in China, following in the footsteps of rival British luxury fashion brands Burberry and Mulberry.

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