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% 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% on the news to 174.9p and have risen by 25% since they listed back in October.
Bosses said its Asia expansion was going to plan, helping net revenues to rise 12% 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.
