Sales Growth Slowed Down In The First Half Of Jimmy Choo

In the context of the uncertain economic environment, sales growth of high-end shoe brand Jimmy Choo in the first half of this year is slowing down.

It is worth mentioning that, Jimmy Choo In the first half of the year, the brand remained strong in the Asian market. In addition to Japan, organic growth continued strong in Asia, and revenue increased by 34.5%; Japan benefited from Chinese tourists. passenger flow Skyrocketing revenue increased by 20.5%. Jimmy Choo CEO Pierre Denis said in its earnings report that the group was satisfied with its performance in the first half of this year, as industry growth slowed to a low single digit.

In the first half of 2015, the total revenue amounted to 159 million pounds, an increase of 5.5% over the same period of 150 million last year, an increase of 6.5% under fixed exchange rates, and 12.2% in the 2014 year of fiscal year. In the first half of this year, the growth of 3.3% in the same store was significantly lower than the 5.7% in the 2014 fiscal year. It is interesting that the group blamed the cause on London. Sloane Street A series of shops headed by flagship stores have temporarily closed down and refurbished, which has affected sales.

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In recent years, the contribution of the manufacturing sector to the local economy has been gradually reduced. There is no need to worry too much. Instead, the retail industry is facing greater challenges. There is still no bottom in this year. It is expected that the rent will drop sharply and the shops will go bankrupt.

Recently, the US brand Coach sent an email notice to all the Hongkong members to remind everyone that the flagship store in the central bank had leased out two years ahead of schedule and formally completed its business in August 31st.

This is not the first luxury store closed in Hong Kong. In early August, Tiger Group, a LVMH group, closed its flagship store in Russell street in Hongkong. Russell street, which is located in Tiger Street, has one of the most expensive retail rents in the world a year ago, which is located in the heart of Tongluowan business district.

In March of this year, the new positioning of tiger's new watch reduced the price of many watches, which meant a decrease in profits, and the high rent in Hongkong would obviously engulf their living space.

Although the other groups have no actual action for the time being, the call for rent reduction is coming and going. For example, Burberry group, Kai Yun group and Zhou Dafu group all have some criticisms about high rent.

In contrast, once the high rent shops rented more frequently, a group of five shops in Tongluowan announced the initiative to reduce rent by 30%.

Data from Colliers International Gao Li international show that in the first half of this year, the average monthly rent of Russell Street decreased by 10.4%, while the average monthly rent of Tsim Sha Tsui in Kowloon decreased by 15%. In December last year, retail rents in Hongkong hit the biggest drop since 2009.

From the analysis of the structure of Hongkong's retail sales in 2014, 38% of them came from mainland tourists. If the RMB depreciated again, it would have a greater impact. It is estimated that the rent of the shops will drop by 15% this year.