JIMMY CHOO expands consumer target and considers ready to wear and mens’s line
In a recent interview, JIMMY CHOO’s CEO Joshua Schulman outlined his company’s strategy for future growth which includes: further developing Choo 24:7, the lower priced line of classics by adding boots and handbags, launching a high end line called Crystal and adding more casual styles such as the sneaker line as well as espadrilles and clogs. The Crystal collection which is a group of jeweled styles, will be launched later this year ahead of next years 15th anniversary of the brand. This Fall, Jimmy Choo will launch a co-branded collection with Australia’s UGG, with five different styles, which has already grabbed the attention of media, customers as well as buyers.
After having ventured into various categories such as sunglasses, scarves and small leather goods, the compay is considering launching women’s ready to wear and men’s shoes, for which Schulman says there is already increasing demand. February 2011 will also see the launch of the first fragrance of the brand.
Since it was bought by TowerBrook investment fund three years ago, JIMMY CHOO has doubled its turnover, reaching EUR 175 million. Schulman indicated that the best performing outlets are those directly operated by the company. The expansion strategy will focus on Europe, China and South America.