Jimmy Choo profits leap more than double to 174 pc

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Jimmy Choo, the high-end accessories label has posted posted a 174 per cent rise in pre-tax profits to £18.1million in the first six months of the year thanks to a store revamp and growing demand for its men’s range.
Pretax profit for the six month to June 30 was 18.1 million pounds, compared to 6.6 million pounds last year. Revenue for the period rose 4.5 percent to 201.6 million pounds.
Jimmy Choo Chairman Peter Harf said the deal opened up exciting opportunities.
“The shared vision and distinctive appeal of these two iconic brands will provide an exciting platform to achieve global leadership in luxury retail,” Harf said in a statement.
Revenue at the company’s Japan unit rose 11 percent at constant currency helped by continued growth in its Men’s section.
Jimmy Choo, which was bought by rival Michael Koors last month for £896million, said its store overhaul continued to progress.
It closed five shops and opened six new ones in the first half. It now has 151 stores around the world, including new flagship stores in London’s New Bond Street and Sloane Street, in Milan, Paris, Beverly Hills, Madison Avenue and Harbour City Hong Kong.

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