Jimmy Choo goes East

British luxury shoe and accessories brand Jimmy Choo is well on its way to world domination and has now set its sights on the East. The company has just signed a distribution deal in India and has established a retail joint venture in Japan.

“As we consolidate our business in the US, the UK and Europe, we are moving east,” chief executive Robert Bensoussan told Women’s Wear Daily in an interview.

In India, the company signed a long-term distribution agreement with the Murjani Group, which also distributes the Tommy Hilfiger brand in India. The deal stipulates that Jimmy Choo will open seven stores over the next five years, the first of which will open in New Delhi at the end of this year.

“For us, India is a more interesting market than China right now,” Bensoussan said, explaining that China is still a male-dominated society. “The Indian women are sophisticated and aware of fashion, and English is their language. They have money to spend, and they are independent. The Indian market may not be ready right now for luxury clothing, but it’s certainly ready for accessories.”

With regards to Japan, Jimmy Choo has established Jimmy Choo Tokyo KK, together with co-owner Bluebell Japan Ltd. The company will open its first independent boutique in Omotesando in Tolkyo. In the long term, the joint venture has been established to set up a network of shop-in-shops in department stores as well as freestanding boutiques.

Besides the plans for India and Japan, this year will see the opening of 14 more stores, bringing the total number of stores worldwide up to 50. Five of them will be in the US. However, the company is also planning on opening stores in the United Arab Emirates, Bahrain, Qatar, South Korea, Indonesia and Hong Kong, as well as mostly franchises in Istanbul, Kiev, Ukraine and Mexico City.

Bensoussan estimates the sales will increase 30 percent this year, compared with last year. “Our ambition is to turn Jimmy Choo into a $200 million company very fast,” he said.

With 65 percent of revenues generated by footwear, the remainder comes from bags and small accessories.

Speaking of future plans Bensoussan said that, by the end of the first quarter, Jimmy Choo will announce details of its first online boutique. The company is also working on loafers and flat shoes and boots for a more casual wardrobe.

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