Handbags and footwear company credits US expansion and cost of living crisis for rising profits

Kurt Geiger increased sales by nearly 10% last year as the footwear and handbag retailer said it benefited from fashion fans switching to its more affordable luxuries during the cost of living crisis.

The company said its revenues had risen by 9.4% in the year to the end of January 2024. Sales of handbags boomed after it cut prices by 5% compared with three years ago, just as many luxury brands had upped price tags.