Footwear and accessories retail Kurt Geiger has turned in a 31 per cent increase in its revenues, reaching £329.5m for the 12 months ended 28 January ’23, with EBITDA up by 49 per cent to £30m.
Kurt Geiger credited the performance with the global demand for affordable luxury, continued international expansion activity as well a record-breaking year for handbag sales. Its bags were in high demand in the USA, becoming its best-selling category there, whereas in the UK handbags account for 50 per cent of sales.
Over the past eighteen months, Kurt Geiger has been steadily introducing new product categories, namely jewellery and swimwear to its mix as well as opening 12 new UK stores. The business also opertes a successful online operation with a growing customer base across North America, Europe, Middle East, Australia and China. It will be opening six new stores in the USA over the coming 12 months as well as further stores in Europe.
Neil Clifford, CEO, said: “Our outstanding financial results are a testament to the hard work, dedication, and innovation of our entire Kurt Geiger family. We are celebrating our 60th anniversary this November and I am extremely proud of the exeptional growth we have achieved internationally this year, especially in North America, w are are now recognised as a truly global accessible luxury accessories brand.”
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