Yahoo Finance Party season returns with a bang for Kurt Geiger as sales double
Kurt Geiger has reported that its sales during the festive period so far have doubled on last year as shoppers snap up sparkly handbags and accessories for the party season.
Despite the cost-of-living crisis, Kurt Geiger’s average transaction value on gifts has climbed by 17% and its embellished styles, which have a higher retail price than the non-embellished styles, have had record sales.
Overall so-called ‘gifting’ sales are up 101% on last year, and the company said it expects to sell more than 100,000 bags this month.
As well as bags, hats have been performing strongly, even in November during the milder weather.
The performance was mostly boosted by a stellar period in the US, where Kurt Geiger’s sales jumped 236% on last year thanks to a number of high-profile celebrity endorsements including Rita Ora and Jenna Ortega. Sales in the UK climbed 71%.
Creative director Rebecca Farrar-Hockley said: “We have had an incredible year of growth at Kurt Geiger, with particular success in the US, where our gifting sales are up almost 240% on last year, and our UK customers are increasingly recognising us as the destination for all accessories.
“We will continue to expand our ranges next year with exciting launches in new categories, as well as more store openings as our customer base, especially stateside, continues to grow.”
