Manolo Blahnik saw its sales surpass €100 million in 2022, the London-based luxury footwear brand confirmed.
The brand saw its turnover rise by 69% to €118.2 million, while its pre-tax profit improved threefold from €4.6 million to €23.7 million.
“All channels experienced a strong rebound in consumer demand with store footfall returning to pre-pandemic levels and eCommerce sales continuing to grow, up 24% year on year,” the brand said.
The rise in sales was partly driven by the brand’s boutique stores location in East Hampton and Madison Avenue in New York City — a sign that the brand’s shoes continued to maintain their appeal, even as luxury shoppers cut back on other purchases.
Manolo Blahnik also benefited from its global collaboration with Birkenstock, which saw two drops in March 2023 and June 2023, contributing to unprecedented levels of brand awareness and engagement across social channels. According to the brand, the collection sold out within hours of launch and brought in new customers.”
Many of the Birkenstock x Manolo Blahnik pieces are continuing to sell for a premium price on resale platforms such as StockX.
In the womenswear category, the brand saw increased demand for occasionwear and embellished designs, such as the Hangisi shoe. At the same time, shoppers also bought simpler and investment pieces, such as the classic Maysale, which is versatile yet offers timeless quality, especially toward the end of the year.
Meanwhile, the brand’s launch of awareness campaigns for its menswear category helped generate momentum across all channels in the U.S. and the U.K. markets.
“We saw another record financial performance in 2022 with sales across all our channels rebounding very strongly and firmly establishing our position in the U.S. market,” said CEO Kristina Blahnik. “2022 was an extraordinary year of consumer demand which will naturally rebalance in 2023 given multiple macro-economic headwinds.”
Photo credit: Manolo Blahnik
Originally published at https://retailbum.com on October 3, 2023.