Jimmy Choo's stock is spiking. Here's why

 

Investors are drooling over Jimmy Choo shares after the company said sales of men's shoes are spiking and its business in China is booming.

The luxury shoe brand is hugely popular among female fashionistas, and a pair of stilettos can easily sell for over $1,000.

But it's gaining a big following among men too. Nearly half of its stores now sell men's shoes, and

they account for 8% of global sales, making it the fastest growing area of its business.

Chinese consumers are also tripping over themselves to buy some Choos, even as some other luxury retailers struggle in the country.

Jimmy Choo sales in Asia (excluding Japan) in the first half of 2016 are up 22% compared to last year. Some of that comes from new store openings but there's organic growth too.