Shoe maker Crockett & Jones sees sales rise, plans second NY shop

By

Barbara Santamaria

Published
Sep 5, 2018

Northampton-based shoe manufacturing company Crockett & Jones is enjoying a sales boom in the UK and internationally, but an increase in distribution costs, shop rents and business rates is impacting its profits.

The Royal Warrant holder said turnover increased to £31 million from £29.4 million in the year ended 28 February, with sales up 6% in the UK and almost 5% internationally.

Store sales grew 3.7% year-on-year as they benefited from the expansion of the brand’s retail operation. Crockett & Jones has 13 international stores, including six in London, one in Paris and one in New York. A second location is planned to open in New York next year.

But while the company said it sees “significant growth potential in the medium term”, it will struggle to expand production because of limited availability of skilled labour and high quality calf leather.

This could spell trouble for the business after pre-tax profits fell to £4.9 million from £5.3 million during the year. It blamed challenges on the current business environment, and higher costs such as rents and business rates, for the decrease.

Founded in 1879, the company is still owned and managed by the founding family. Its leather shoes were been worn by Daniel Craig in two James Bond movies, Skyfall and Spectre, helping it gain further worldwide recognition.