Kurt Geiger sales surge driven by handbags

British footwear and accessories brand Kurt Geiger has reported total group sales increased 15 percent to 45 million pounds in December 2023 to make it its "most profitable month in history”.

In a statement, Kurt Geiger said that UK store sales were up 12 percent, while digital sales increased by 45 percent in December, driven by demand for handbags and accessories, as well as continued celebrity endorsement from the likes of Kylie Jenner, Jennifer Lopez and Julia Roberts.

Neil Clifford, chief executive of Kurt Geiger, said: “These results underline Kurt Geiger’s transformation over the last decade from a predominantly UK shoe brand to what it is today; a global accessories brand with a cult following in both the US and UK.

“December’s performance marks a very strong end to what has been a remarkable year. With in-store and digital sales both hitting double digit growth in the UK and the US the group is delivering what customers want, namely accessible luxury combined with high quality, distinctive design.”

US strong growth market for Kurt Geiger

The brand also added that growth was “exceptionally strong” in the US, which has become the group’s largest market since entering North America four years ago, with Kurt Geiger becoming one of the fastest-growing accessories brands in the region.

In December, US sales increased 60 percent, compared to 2022, and it has plans to continue its growth by opening five additional stores in 2024, adding to the success of its stores in Mexico last year.

Handbags were the best-selling category in the US, reflecting the success of the new larger shapes and sizes within the range. The handbag category also represents 50 percent of Kurt Geiger’s sales in the UK.

Clifford added: “Handbags and accessories continue to underpin our robust sales, and combined with a growing celebrity following, we are very well positioned to continue our profitable growth trajectory in 2024.”

Handbags continue to drive sales for Kurt Geiger in the UK and US

Kurt Geiger’s success in providing consumers with affordable luxury handbags has seen the brand reported a 31 percent increase in turnover to 329.5 million pounds and a 49 percent rise in EBITDA to 30 million pounds in the financial year ended January 28, 2023. The US also reported a sales increase of 171 percent and overall handbag sales rose to a record 91.6 million pounds.

The strong results have also allowed the group to inject more than 1 million pounds into its foundation to establish an in-house academy that provides education and opportunities for under-represented young people aged 18 to 20-years-old.

The ‘Business By Design’ programme is accredited by AQA and includes inspirational masterclasses, hands-on skill sessions, and paid work experience in all the core functions of a creative business: design, buying, marketing, digital, sales, finance, merchandising and social media, with mentorship directly from experienced Kurt Geiger team members.