Jimmy Choo profits up by 19 percent
British luxury shoemaker Jimmy Choo reports 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 Group, a luxury goods company backed by Germany’s Reimann family, owners of German based household goods giant Reckitt Benckiser.
The strong financial results come as a surprise given the departure of both company founder Tamara Mellon and CEO Joshua Schulman earlier this year. The company is yet to name a CEO.
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.