LONDON — Revenues at Jimmy Choo plc, which debuted on the London Stock Exchange last October, climbed 6.2 percent to 299.1 million pounds, or $493.5 million, in the 12 months to Dec. 31. At constant exchange rates, sales were up 12 percent, in line with analysts’ expectations.
Dollar figures have been converted at average exchange rates for the year.
In its first trading statement as a public company, Choo said that shoes were the main driver of net revenue growth, with accessories volumes also growing, driven by small leather goods.
Men’s shoes and accessories, while still a small component of the business, continued to be the fastest growing segment with particular success in Asia, especially Japan.
The company said Asia remains its strongest growth region overall, as the store portfolio expands in that market.
Despite the devaluation of the yen, the Japanese business grew strongly, driven by a positive response to the launch of CHOO.08, a new collection with an urban edge, stocked with lower heels and sneakers, according to Choo.
Chief executive officer Pierre Denis said the increase in revenue came from a mix of like-for-like, retail and wholesale growth.
Ten new directly operated stores were opened in 2014, and one was closed, for a portfolio of 125 stores. That pace of growth is set to continue, with 10-15 new stores projected to open each year.
In addition, a further 10-15 existing directly operated stores are set to be renovated annually with the new interior concept, unveiled at the New Bond Street flagship last year.
At constant currency rates, retail sales were up 15.4 percent, while wholesale sales grew 6.3 percent, and licensing 8.9 percent.
In reported terms, retail grew 8.7 percent, wholesale 1.9 percent, and licensing 3.1 percent. Full preliminary results are to be released on March 19.