Kurt Geiger has announced that December marked the most profitable month in the company’s history, with global Christmas trading reaching new heights. The brand’s total December sales saw a 15% increase, reaching £45 million compared to the same period in 2022. This surge in revenue is attributed to a 12% rise in UK store sales and an impressive 45% jump in digital sales, fueled by a growing demand for the brand’s handbags and accessories.
The brand’s success was further bolstered by significant celebrity endorsements, with stars such as Kylie Jenner, Julia Roberts, Jennifer Lopez, Viola Davis, Eva Longoria, Paris Hilton, and Afiya Bennett choosing Kurt Geiger London accessories, highlighting the brand’s expanding influence and appeal.
A major factor in Kurt Geiger’s growth has been its strong performance in the United States, now the group’s largest market, following its entrance into North America just four years ago. The brand’s US sales soared by 60% in December alone, reflecting a strategic push that includes plans to open five additional stores in the USA in 2024.
The company’s commitment to affordable luxury is evident in the launch of new, larger handbag designs, aiming to offer customers high-quality, distinctive design without the luxury price tag. The average price of Kurt Geiger’s leather handbags stands at £250, challenging the notion that luxury must come at a high cost.
“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.
“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. The fact the Group has been able to contribute £1 million to our Foundation which supports the creative talent of tomorrow is also very pleasing.”
In a move that underlines its commitment to social responsibility and creative talent development, Kurt Geiger has announced a £1 million donation to the newly established Kurt Geiger Kindness Foundation. The foundation’s flagship initiative, the Business By Design Academy, aims to provide education and career opportunities for young people from underrepresented backgrounds. This innovative program, accredited by AQA, offers participants a comprehensive education in all areas of the creative business, from design to digital marketing.
The Business By Design Academy has already welcomed its first cohort, offering 22 young people aged 18-20 a seven-month program that includes masterclasses, skill sessions, and paid work experience across various business functions. Upon completion, graduates receive an AQA accredited certificate and a chance for one participant to secure a one-year paid work placement at Kurt Geiger.
