Jimmy Choo Store
The British luxury brand saw pre-tax profits rise by 174.2% to £18.1m during the first half of the year.
Jimmy Choo, the British luxury brand specialising in shoes and accessories, has announced its unaudited results for the six months ended 30 June 2017.
The results show yet another strong year for the brand which was recently acquired by US fashion house Michael Kors.
The firm invested heavily in opening new and refurbishing existing stores last year, leading to pre-tax profits rising by 174.2% to £18.1m and revenue growth of 16.5% to £201.6m.
Pierre Denis, CEO of Jimmy Choo, said: "We are delighted with our performance during the period, having delivered growth in revenue and margins, despite challenging market conditions.
“Strong underlying cash conversion has also allowed us to deleverage, providing us with a stable platform to deliver further strong growth.
“Our long-term growth strategy is to nurture the brand's unique DNA, to strive for excellence in business execution and to enhance client experience, in order to deliver superior growth and profitability, as well as leveraging the significant investments we have made in the business to date.
“We have continued to make good progress through the first half and are well positioned to deliver over the remainder of the year."
Peter Harf, chairman of Jimmy Choo, added: "The strong performance in the first half of the year highlights the excellent strategic progress Pierre and his team have made further developing the Jimmy Choo brand and enhancing our global client offering.
“These strong foundations will prove to be invaluable as we embark on the next phase of our strategic development, and I would like to thank all Jimmy Choo employees for their continued energy and hard work as we look ahead.
“We are excited about the opportunities presented to Jimmy Choo through Michael Kors' all cash offer to our shareholders, as set out in the announcement on 25 July 2017.
“The shared vision and distinctive appeal of these two iconic brands will provide an exciting platform to achieve global leadership in luxury retail."
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