Kurt Geiger trading hit an all-time record this Christmas, as it notched up the most profitable month in its history in December.
Sales jumped 15% year on year to £45m over the month, with UK store sales surging 12% and online sales up 45%, driven by strong demand for handbags and accessories.
The stellar Christmas comes at the end of a year of growth for Kurt Geiger, where it opened eight new UK stores, including a flagship store on Oxford Street in October.
In its last financial year to 28 January 2023, the footwear retailer’s sales surged 31% to £329.5m and a 49% increase in EBITDA to £30m.
North America has taken over as the group’s largest market, with sales jumping 171% in its last financial year and 60% over the recent Christmas period.
Handbags have been a huge driver for growth, especially in the US where they are now its best-selling category. The category also represents 50% of Kurt Geiger’s sales in the UK.
Kurt Geiger credits its success to being able to provide consumers with affordable luxury handbags, challenging traditional market dynamics.
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CEO Neil Clifford said: “These results underline Kurt Geiger’s transformation over the last decade from a predominantly UK shoe brand to what it is today; a global accessories brand with a cult following in both the US and UK”.
“December’s performance marks a very strong end to what has been a remarkable year. With in-store and digital sales both hitting double digit growth in the UK and the US the group is delivering what customers want, namely accessible luxury combined with high quality, distinctive design.”
Following the stellar year, the retailer will invest £1m into its Kurt Geiger Kindness Foundation, which looks to remove barriers and give young people of all backgrounds an opportunity to enter the creative industries.
The business launched the Business by Design programme this week, which gives opportunities for young talent from marginalised communities to learn all areas of Kurt Geiger’s creative business.
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