Food
Jimmy Choo Japan delivered the strongest performance internationally for the luxury shoe brand’s first half.
While there was strong growth across Asia, Japan shone with an 11 per cent rise in revenue on a constant currency basis.
Growth was underpinned by the men’s category, says the company. It continues to be the fastest-growing category, and in Japan it represented 28 per cent of revenue for the six months, up from 26 per cent year on year.
Excluding Japan, Asia had 8.2 per cent revenue growth with all territories delivering strong like-for-like growth.
“Mainland China continues to experience double-digit like-for-like growth, driven by increased brand awareness and greater demand for the seasonal fashion offerings,” says Jimmy Choo.
“We have also seen strong results in Malaysia and Singapore following the conversion of franchise stores to retail in 2015, driven by improved merchandising and store performance.” Within wholesale, the company continued to expand its travel-retail footprint with the opening of two franchise doors.
Overall revenue for the brand grew by 4.5 per cent on a constant currency basis (16.5 per cent on a reported basis), with growth driven by retail rather than wholesale. Retail revenue was up 6.7 per cent to £127.1 million (US$164.5 million) while reported revenue was 18.5 per cent ahead of last year.
Good performance continued from the company’s new concept stores despite disruption from its store development program. Eight store were renovated or relocated during the period. As at the end of June, more than half the company’s outlets, including the seven flagships, had the new concept.
Meanwhile, Jimmy Choo says its online business, at 6.3 per cent of total revenue, performed particularly well with sales growth of 3.5 per cent.
