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Well healed boost sales at Jimmy Choo

Well healed boost sales at Jimmy Choo but owner Capri warns times could be getting tougher for luxury companies

The owner of glamorous high heel maker Jimmy Choo posted strong second quarter results but warned that times could be getting tougher for luxury companies.

Capri, which also owns luxury brands Versace and Michael Kors, beat expectations for the three months to July as wealthy customers kept buying designer labels over the summer months.

The company, registered in the British Virgin Islands, reported revenues of £1.12billion for the period, up 8.5 per cent a year ago.

Jimmy Choo features the likes of model Cara Delevingne in ad campaigns

A breakdown shows Jimmy Choo’s revenues were up a third to £142.2million, while profit at the brand, which features the likes of model Cara Delevingne in ad campaigns, came in at £15.71million versus £9.09million a year earlier.

But the results also came with a warning as Capri cut its revenue outlook for the rest of the year amid an anticipated downturn in sales.

It shaved £83million off its full-year revenue forecast of £4.92billion, bringing it down to £4.84billion. 

Other luxury brands predicted to struggle in the coming months include rival Burberry.

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