The boss of Kurt Geiger credits a shift in demand towards more “affordable luxury” for a surge in global handbag sales.
Neil Clifford, boss of the shoe and accessories retailer, said a move away from expensive designer brands had led to “exponential demand” for Kurt Geiger’s more accessible bags, which sell from £199 to £269.
So far this year its handbag sales have increased 72 per cent to £91.6 million, compared with the previous year.
Handbags make up 50 per cent of Kurt Geiger’s total sales in the UK
KEVIN MAZUR/GETTY IMAGES
Handbags have been a big driver for growth, especially in the US where they are now its best-selling category, and in the UK they make up 50 per cent of total sales.
Group sales were up 41 per cent to £330 million in the year to the end of January,
