Profits on the rise at Jimmy Choo after Sterling fall

The firm said the pound’s devaluation will lead to an “upside in business performance at a revenue and profit level”.

The firm made the announcement alongside results for the first half of the year, which saw operating profit up 42.6 per cent to £25.3 million.

It added: “Jimmy Choo is a global business, well placed to take advantage of market dynamics seen since the pound’s devaluation; 9.5 per cent of global revenue is derived in sterling while 28% of operating costs are denominated in sterling.”

Revenue came in at £173.1 million, up 9.2 per cent compared with the same period last year, driven by a strong performance in China and strong sales in its men’s ranges.

Boss Pierre Denis said: “We have made a good start to the second half and we remain optimistic about our prospects both for this year and for our performance in the future.”

However, the brand continues to struggle in the US, where sales were down 3.4 per cent.

“There has been softer luxury demand in the USA generally, compounded by a drop in sales to international tourists,” the company said.

The brand traces its roots to a bespoke shoemaker named Jimmy Choo, who was based in the East End of London in the early 1990s, who catered for the global jet set.

Last year saw the company struggle with sales after terrorist attacks in Europe weakened tourism levels, knocking the demand for luxury goods.