Sales of super-high heels lift sales at Kurt Geiger stores

LUXURY shoe brand Kurt Geiger has reported a 25 per cent rise in turnover in the nine months to November this year, as ladies have flocked to buy its coveted 120mm-high heels.

Sales of its highest heels quadrupled compared with a year earlier, it said in its third quarter trading update.

Sales of red and lace-detailed shoes have also doubled, the statement said.

Shearling boots, a key catwalk trend of this season, have seen sales soar 50 per cent on the same period last year.

And last week’s like-for-like sales, from 15 November, jumped 30 per cent on purchases of party shoes for the festive season.

The company anticipates strong Christmas trading across the business as fashionistas mimic catwalk trends.

Like-for-like sales performance improved ten per cent in the first three quarters on the previous year.

The company said international sales rose 45 per cent and now account for a tenth of its total turnover.

It plans to open more than 32 overseas stores over the next five years, bringing the total to 50 by 2016.

New stores are planned for Russia, Turkey and Malaysia to add to existing shops in Moscow and Dubai.

Kurt Geiger opened its first store on Bond Street in 1963 and now owns a stable of brands including Miss KG and Carvela. It is also a major seller of high-end third-party brands such as Gucci, Prada and Jimmy Choo.

Acquired in 1985 by House of Fraser, Barclays Private Equity led a management buyout in 2005 and in 2008 private equity group Graphite Capital led a further buyout valued at £95m.