Companies

Manolo Blahnik’s sales and profits soared in 2022

Oct 11, 2023 United Kingdom

The UK-based footwear and accessories brand posted a “record financial performance” in 2022, and thanked its employees by distributing more than 1 million euros in bonuses last November

The group’s sales reached 118.2 million euros in 2022, reflecting an increase of 69%, as compared to the 69.9 million euros recorded in the previous year, and its profit before tax more than tripled to 21.9 million euros from 6.6 million euros in 2021. In addition, its full year operating profit grew five-fold year-on-year to 23.7 million euros from 4.6 million euros in the prior fiscal year.

Manolo Blahnik added that all channels experienced a strong rebound in consumer demand, with store footfall returning to pre-pandemic levels and e-commerce sales increasing by 24% year-over-year. The luxury footwear and accessories company also benefited from the opening of two US boutiques last year, which demonstrates the brand’s appeal to American consumers.

“We saw another record financial performance in 2022 at Manolo Blahnik Group with sales across all our channels rebounding very strongly and firmly establishing our position in the US market”, commented Kristina Blahnik, Chief Executive of Manolo Blahnik. Therefore, to celebrate exceeding 100 million euros in sales for the first time in its history, the company shared an exceptional bonus of over 1 million euros with its employees in November, “recognising the hard work and dedication of our teams worldwide and their contribution to reaching this milestone”.

But “2022 was an extraordinary year of consumer demand which will naturally rebalance in 2023 given multiple macro-economic headwinds”, warned Kristina Blahnik, Chief Executive of Manolo Blahnik. In any case, looking ahead, the company’s priority is to focus on strengthening its international business, especially in Asia.

Image Credits: www.manoloblahnik.com

United Kingdom Accessories Footwear Luxury Manolo Blahnik Results Year Results