Jimmy Choo

Weakening pound proves a boon for Jimmy Choo

The weakening of the pound has proved a boon for luxury fashion accessories brand Jimmy Choo following a year of record revenues in 2016.

The brand saw sales soar in Asia and Europe last year as luxury shoppers flocked to the UK to capitalise on the weakening of the pound sterling.

The company notched up revenues of £364m last year, a rise of 15% on the year before. The main driver of this growth was its shoes, which represent 75% of the company’s revenue. 

Jimmy Choo also made continued progress in its men’s range which includes shoes and accessories. This remains its fastest growing category and now accounts for around 9% of revenue. 

Pierre Denis, CEO of Jimmy Choo, said: "In our 20th anniversary year, we have continued to grow and to build on the strength of the brand.  I would like to thank all my colleagues for their hard work in delivering this excellent performance. 

“We look forward to 2017 as we continue to deliver on our strategy of growth through the development of our collections, fashion leadership and the controlled expansion of our distribution network."

As Jimmy Choo moves forward into 2017, the company is expecting to see improving trends across all regions and believes it is ‘well positioned to take advantage of a stronger marketplace.’

Britain's decision to exit the EU has so far proven a boon for luxury spending, with the falling pound encouraging both domestic consumption and travellers to spend, as seen by Jimmy Choo’s success.