Athleisure trend sends Kurt Geiger FY16 revenue soaring
Last year’s athleisure boom helped shoe retailer Kurt Geiger post a stellar 12% increase in revenue, as trend-driven shoppers fuelled a 48% increase in the women’s fashion trainer segment.
The company said its women’s accessories collections also performed strongly with growth of 18%, while men’s footwear experienced a 12% rise during the 12 months ended 28 January 2017.
“I am pleased to report another successful year in Kurt Geiger’s development as a global fashion brand. We delivered a strong performance across all channels and established territories last year, which resulted in a 12% increase in revenue and an 11% increase in EBITDA,” said Neil Clifford, Chief Executive Officer of Kurt Geiger Ltd.
While revenue increased to £330m from £294m, EBITDA jumped to £33.9m from £30.6m. On a like-for-like basis, sales grew 11%.
During the period, Kurt Geiger expanded into children’s shoes with key retail partners, and invested in talent with total headcount increasing 11% to 2,291.
And the company has continued the hiring drive, with CEO Neil Clifford identifying the continued investment in people, digital innovation, processes and systems as a key pillar for growth.
Five new people have joined the Kurt Geiger board since the period end. These include Michelle Ryan as buying & supply chain director, own brand; Steven Sousa as international director; Robin Philips as digital director; Guiseppe Guillot as logistics and systems infrastructure director; and Ross Warden as retail director.
Clifford commented: “Kurt Geiger is well placed to deliver another year of growth and innovation to meet the changing needs of all its customers, and the team looks to the future with confidence.”
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