Luxury shoe-seller Christian Louboutin on Friday warned that Brexit uncertainty has pushed UK sales lower.
New UK accounts show the iconic red-soled stiletto maker, whose A-list fans include Taylor Swift and Kate Winslet, saw turnover fall 4.8% to £50.2 million in the year to August 31.
The firm pointed to a “challenging” retail environment here, adding: “The ongoing uncertainty regarding the future relationship of the UK with the EU, and around the eventual timing of the UK’s departure from the EU, have both contributed to downward pressure on like-for-like sales.”
However, it said it is confident in longer term revenue growth.
Pre-tax profits rose 9% to £1.2 million, triggering a £3 million dividend.
It is understood this was paid to the retailer’s French parent, controlled by shareholders including founder Christian Louboutin and co-founder Bruno Chambelland. The firm's report said the results for the year were satisfactory.
Designer Louboutin opened his first shoe salon in 1991 with Princess Caroline of Monaco his first customer.
