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Luxury footwear brand Jimmy Choo boosted by weaker pound

Luxury footwear brand Jimmy Choo boosted by weaker pound
Celebrity-favourite footwear brand Jimmy Choo has posted rising profits and said it expects a weaker pound in the wake of Brexit to further boost revenues and profits. The luxury shoes and accessories firm, popular with the likes of Jennifer Lopez and Sandra Bullock, said that because only 9.5 per cent of its global revenues are in pounds compared to a larger 28 per cent of operating costs, a weaker sterling ‘will lead to a reported upside in business performance at a revenue and profit level’. The comment came as Jimmy Choo posted a 43 per cent rise in operating profits for the six months to the end of June to £25.3million boosted by a weak pound, as well as growth in China and in its men's coillection. Luxury appetite: Jimmy Choo said it saw ‘impressive’ growth in China, which has been a tough market for its competitors recently While being well-known for its skyscraper heels, Jimmy Choo's men’s line and handbags have also been doing well.

http://www.thisismoney.co.uk/money/markets/article-3757812/Luxury-footwear-brand-Jimmy-Choo-boosted-weaker-pound-men-s-collections-growth-China.html

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