Christian Louboutin UK blames Brexit uncertainty for sales drop

today Jul 5, 2019
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The British arm of luxury shoe business Christian Louboutin remains confident in its ability to grow in the long term despite reporting a 4.8% decrease in revenues in the year to 31 August 2018.

Christian Louboutin

Revenue fell to £50.1 million from £52.6 million a year earlier as the ongoing uncertainty regarding Brexit and the UK’s future relationship with the European Union impacted the brand’s like-for-like sales.

Christian Louboutin operates three standalone boutiques in the UK, and it has a presence at Selfridges in London, Birmingham and Manchester, as well as Harrods and Harvey Nichols.

During the year, the upmarket designer label, known for its red-soled stilettos, invested £1.2 million across existing and new locations, including the new boutique at Selfridges Birmingham. 

And despite the slowdown in like-for-like sales, gross profit rose 3.7% to £20.73 million, reflecting the strong performance of the brand’s latest collections, it said.

Additionally, pre-tax profits rose by 9% to £1.2 million and shareholders received a £3 million dividend as a result. 

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