Forward3D | Agency Profile, Contacts, AOR, Client Relationships
|Main Telephone||020 3051 8499|
|Martin M.||Chief Executive Officer||London|
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|Hannes B.||Chief International Officer||London|
|Simon A.||Head, Business Development||London|
|Leo A.||SEO Manager||London|
|Gary R.||Managing Director, EMEA & APAC||London|
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Jimmy Choo's best foot forward leads to Forward3D for new AOR
Subject: Fashion, Luxury, Media, Press, Creative
Company: Jimmy Choo, the upmarket shoemaker
UPDATE: reportedly, appointed Forward3D to handle paid search, SEO and display advertising across its full range of brands.
The appointment covers a range of European and overseas markets specific to each brand, including the UK, US, Germany, France, Italy, Australia and Japan.
Commenting on the appointment, Harriet Williams, group multichannel director at JAB Luxury said: “We needed a partner to assist with the continued development of the brands' online advertising, and appointed Forward3D because of the agency's proven record within luxury, and their understanding of our industry.”
Opportunity: Jimmy Choo continues to bolster its expansion plans, particularly now with growth and funding from investors. The company has an in-house creative team, but creative groups (particularly worldwide agencies) should continue to be on the lookout for RFPs in the future, especially following its IPO that launched in October.
Financial Results: Jimmy Choo saw significant sales growth for the full year, the company Total sales increased to £192.9m as it added nine new stores, as well as refurbished and relocated flagship stores in London and Beverly Hills.
CEO Pierre Denis said: “This has been a year of great financial, strategic and operational progress for the company. With our unique DNA and experienced team we have continued to deliver products that resonate with our clients.”
Pre-tax profits were £28.3, with gross margin at 62% and a revenue growth of 6.4%. Adjusted core earnings (EBITDA) were £50.2m in 2014 compared to the £46.9m it made in 2013.
Three major product launches were delivered during the period: made-to-order shoes with range of heel heights, a new seasonal collection based around boots and trainers “with a cool London feel”, and a first male fragrance. In addition, a new line of men's sunglasses launched when Jimmy Choo and Carrera signed a partnership deal last May.
For the current financial year, Mr. Denis said the plan remained to roll out 10 to 15 directly operated stores (DOS), with a focus on China, and renovating 10 to 15 of the existing portfolio in the new store concept.
IPO Launch: This news comes in the wake of the company's initial public offering launch back in October on the London Stock Exchange in a deal that valued the company at more than £700m. The hope of the IPO was to woo investors with the prospect of expansion in Asia.
“We remain focussed on executing our growth strategy and pursuing growth without compromising our brand or its luxury position despite the more challenging macroeconomic environment,” Mr. Denis said.
Competition: Reportedly, Jimmy Choo will keep prices in line with with sector peer Salvatore Ferragamo of Italy, which is currently trading on about 12 times next year's core earnings and has a market valuation of 3.75bn euro.
Christian Louboutin, famous for its carmine red soles, has 92 boutiques worldwide, and has also expanded into Asia with 13 of its boutiques located in mainland China.
Other luxury brands, like Moncler SpA (‘società per azioni' in Italian, or ‘joint stock company'), Brunello Cucinelli SpA and Salvatore Ferragamo SpA, have sold stakes on the stock market to fund expansion.
Agency Relationships & Media Spend: Jimmy Choo works with OMD UK for its media buying and planning and has an in-house creative team.
Media spend has gone down in recent years; the company spent £358k on total measured media for the first three quarters of 2014 and £612.8k in 2013. In 2013, media spend reach £969k. Press is the company's largest investment.
Jimmy Choo Plc
10 Howick Street, London, SW1P 1GW, 020 7368 5000
Group Multichannel Director at JAB Luxury
Head, Marketing – EMEA
Marie Laure Dubuisson
Vice President, Global Marketing
Floor 1, Centro 3 19 Mandela Street, London, NW1 0DU, +44 20 3468 4479
Head of Client Services
Scott Adam Brown
Digital Account Manager
Business Development Manager