Christian Louboutin UK dishes out £3m dividend despite lower profits

Luxury footwear designer Christian Louboutin took home part of a £3 million dividend from his UK business despite profits falling here, it emerged on Tuesday

The money was paid in the year to last August to the brand’s French parent company, ultimately controlled by its shareholders including the Frenchman and co-founder Bruno Chambelland.

That came despite “a more challenging” market in Britain — UK turnover rose by just 0.4% to £52.7 million, recently filed accounts show.

Christian Louboutin UK said the weaker pound after the Brexit vote pushed up purchasing costs. It added that the economic outlook continues to be uncertain.

However, the company said its stores performed well and it is confident of longer-term sales growth.

Pre-tax profits at the brand, famed for its red soles, fell to £1.1 million from £5.8 million. The company declined to comment on the results.

The company is owned by its founders, including Christian Louboutin who began designing footwear after being expelled from school.