Thursday, November 14, 2024

Handbag maker Kurt Geiger defies the industry gloom to post a record £40m profit

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Soaring sales: Profits at Kurt Geiger rose 34% to just over £40m for the year

Handbag maker Kurt Geiger has posted record profits. 

The British fashion label has defied gloom in the wider industry as boss Neil Clifford declared 2024 to be ‘on track to smash our most ambitious predictions’. 

Profits at the business rose 34 per cent to just over £40million for the year to February 2024 while annual sales leapt 10 per cent to £360million. 

The company has cashed in on soaring demand for ‘affordable luxury’ as more expensive rivals like Burberry and Mulberry suffer from slowing sales. 

Bags at these labels usually cost upwards of £1,000, whereas price tags at Kurt Geiger are normally in three figures. 

Handbags are now the retailer’s biggest sellers. And its campaign featuring model Emily Ratajkowski showcases the latest collection called Chelsea. 

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