Jimmy Choo aims to reach 500 million pounds (585.4 million euro) by 2020 by focusing on retail. The brand owned by the asset manager Jab Holding has regained its network of franchised stores located in the Middle East and South Korea, signing partnerships with local distributors such as Korean multinational Hyundai and the group of Dubai Al Tayer. The dual agreement should lead the initial opening of 18 stores. Jimmy Choo’s is not an isolated choice. Many of the luxury brands recently passed by a franchised distribution system into a joint venture with local partners to better control the stores and its image while increasing margins through direct control of the distribution. According to the CEO Pierre Denis, “the company is on track to generate growth at constant exchange rates in the order of 5%. We have enjoyed an excellent start to 2017, with a growth of strong foundation, and we are optimistic about the rest of the year.”
Jimmy Choo: Half a billion pounds by 2020 and regains the franchise in the Middle East, and Korea
