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Sales on the rise: Kurt Geiger’s profits rose 34% to just over £40m for the year
Handbag manufacturer Kurt Geiger has reported record profits.
The British fashion brand has defied the wider industry’s gloom when its boss Neil Clifford declared that 2024 is “on track to exceed our most ambitious predictions”.
The company’s profits rose 34 per cent to just over £40m for the year to February 2024, while annual sales rose 10 per cent to £360m.
The company has capitalised on rising demand for “affordable luxury” as pricier rivals such as Burberry and Mulberry suffer from slowing sales.
Bags from these brands often cost upwards of £1,000, while prices at Kurt Geiger are typically in the three figures.
Handbags are now the retailer’s best-selling items and its campaign, starring model Emily Ratajkowski, showcases the latest collection called Chelsea.
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