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Jimmy Choo revenues rose 14.5 percent in FY16

By Prachi Singh

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Business

For the year ended December 31, 2016, Jimmy Choo revenues were up 14.5 percent with improving trends in the second half. Adjusted EBITDA grew by 15.7 percent to 59 million pounds (72 million dollars), which the company said were driven by strong sales growth, margin improvement and lower growth in overheads. Adjusted EBITDA margin was up 20 bps to 16.2 percent and operating profit increased 42.6 percent to 42.5 million pounds (52 million dollars).

Commenting on the company preliminary update, Pierre Denis, CEO of Jimmy Choo said in a statement, “2016 was a landmark year for Jimmy Choo. Not only did we successfully celebrate 20 years of heritage, but record revenues and profitability are testament to the growing appeal and strength of our brand.”

Jimmy Choo said it saw continued strong growth in Asia, solid growth in Europe and Japan and improving trends in USA retail offset by the planned reduction in USA wholesale. Men’s segment continued to be the fastest growing category for the brand, which now accounts for 9 percent of revenue.

The company and launched its new store concept and increased the number of its directly operated stores (DOS) by 10, with one closure, to 150 in the year. 16 DOS were renovated during the year.

Picture:Facebook/Jimmy Choo

Jimmy Choo