Jimmy Choo Sales Boosted by Sneakers and Asia in 2014
Kit Harrington for Jimmy Choo. Photo: Jimmy Choo
Back in October, Jimmy Choo became the first luxury shoe brand to stage an IPO, and its new investors can rest assured that they haven't made a terrible mistake — though they haven't exactly doubled their investments yet, either.
The company announced its preliminary results for 2014 Thursday morning. As disclosed in its first trading statement in January, total revenue grew 12 percent on a constant currency basis. Retail revenue increased 15 percent, while wholesale was up 6 percent.
Shoes continue to represent three-fourths of Jimmy Choo's business (the brand also produces handbags), while men's footwear remains the fastest-growing category. (It's also the smallest, accounting for just 5 percent of net sales.) The company says the launch of its first ever male fragrance, Jimmy Choo Man, performed "well above expectations," sending the company's licensing revenue up 17 percent for the year. Growth in Asia (up 35 percent outside of Japan) and the introduction of a sneakers and boots-focused line called CHOO.08 contributed to an overall increase in retail revenue.
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Going forward, the company is focused on rolling out a new store concept as well as continuing its retail expansion in Asia.
