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Kurt Geiger feels the benefit of high-fashion fans tightening belts
The Guardian
|August 28, 2024
Kurt Geiger increased sales by nearly 10% last year as the footwear and handbag retailer said it benefited from fashion fans switching to its more affordable luxuries during the cost of living crisis.
The company said its revenues had risen by 9.4% in the year to the end of January 2024. Sales of handbags boomed after it cut prices by 5% compared with three years ago, just as many luxury brands had upped prices.
The British retailer's revenues were also helped by its expansion in the US, where Kurt Geiger has been worn by Kylie Jenner, Jennifer Lopez and Paris Hilton.
Its sales have risen despite a tough time for the sector, particularly for luxury brands, as household income has been squeezed by the cost of living crisis.
This story is from the August 28, 2024 edition of The Guardian.
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