Luxury shoe and accessories brand Manolo Blahnik has achieved remarkable success in 2021, marking its 50th anniversary on a high note. The company recently revealed that its group turnover surged by a staggering 65% to reach €69.9 million, with like-for-like sales soaring by 47%. This impressive growth can be attributed to the surge in e-commerce sales, which experienced triple-digit growth year on year, primarily driven by the increased demand during the global lockdowns earlier in the year. Furthermore, Manolo Blahnik returned to profitability, reporting a pre-tax profit of €6.5 million, a significant improvement from the previous year’s loss of €4.7 million.
Despite the challenges posed by store closures in various key markets during the first quarter, Manolo Blahnik witnessed strong international growth. The brand further solidified its presence in the United States by establishing a new headquarters and flagship boutique on the renowned Madison Avenue in New York. Additionally, a second store was opened in East Hampton. Both locations have witnessed promising sales in their inaugural year. To commemorate its 50th anniversary, Manolo Blahnik also launched an anniversary capsule collection and introduced its first virtual experience, The Manolo Blahnik Archives: A New Way of Walking, both of which received an overwhelmingly positive response from customers across the globe.
The year 2022 has continued to bring good news for the company, as it achieved a landmark victory in a long-standing trademark dispute in China. This win holds great significance for the brand, as it opens doors to new opportunities for further development in the booming Chinese market. CEO Kristina Blahnik expressed her optimism about the future, emphasizing the brand’s excellent progress and exceptional sales. She also eagerly anticipates continued growth and success in China in the years to come.
Overall, Manolo Blahnik’s remarkable achievements in 2021 and the ongoing success in 2022 highlight the brand’s resilience and ability to adapt to challenging circumstances. With a loyal customer base and a strong foothold in key global markets, the company is well-positioned for continued growth and expansion.
Useful Links:
1. Manolo Blahnik Official Website
2. Forbes Interview with Kristina Blahnik, CEO of Manolo Blahnik
