The shoe and accessories provider Manolo Blahnik announced that the strategic shift towards a business model geared towards its own retail in 2024 led to lower sales. Nevertheless, it was the third most successful sales year in the history of the company.
The sales of the luxury shoe brand fell in the past financial year, which was completed on December 31, by 19 percent in comparison to the previous year to 86.4 million euros. According to the company, this decline was due to the tightening of the wholesale network and the increased investments in its own sales channels.
The investments in its own channels and the current macroeconomic environment, which contributed to the global luxury, led to the result of interest, taxes and depreciation (EBITDA) compared to 61 percent to 8.4 million euros.
“This result corresponds to expectations and is primarily due to considerable investments in the branch opening program,” said the luxury label in a message. The company said that he had invested 4.3 million euros in seven new businesses worldwide. The brand is now in more locations and in more markets than ever. With the new openings in 2024, the number of boutiques operated on their own has almost doubled worldwide.
Manolo Blahnik also explained that his own retail already delivered “positive results”. There, sales increased by 13 percent in the past financial year. Its share of total sales, which was 22 percent in 2023, increased to 32 percent. The growth shows the success of strategic relocation towards a “more robust and customer -oriented business model”, which was initiated in 2018, the company said.
Despite the losses in 2024, with a view to the sales height, the “third most successful year” was in the company’s history, according to a message. This was followed by the two consecutive record years 2022 and 2023. The company emphasized that this was evidenced by the effects of ongoing strategic realignment.
“Brave transformation”: CEO Kristina Blahnik praises strategic progress
CEO Kristina Blahnik commented on the recent development: “In 2024, Manolo Blahnik was a year of courageous transformation and significant investments. We have made considerable progress in implementing our long -term strategy to focus more on retail,” she said in a statement. “We have deepened the relationships with our customers: the inside, improved the brand experience, set up strong partnerships with our selected wholesale partners and created a more resistant business model. In the middle of a downturn in the luxury market, we have doubled the number of our directly operated boutiques. So I am particularly proud to report a strong sales development – our third -party success so far. Traditional brand we have the rare privilege and freedom to make long -term decisions that create sustainable values.
The stronger focus on retail shows initial successes
The luxury brand also further invested in employees in 2024: inside, products and social responsibility, including the Manolo Blahnik Foundation. The group was certified for the first time in both Great Britain and in the United States as “Great Place to Work” and increased the number of its employees by ten percent due to the expansion in retail.
In addition, the company continues to donate ten percent of its annual operating profit to Manolo Blahnik Foundation, founded in 2022. This supports mental health, animal welfare and promoting the next generation. The foundation will support a new scholarship program for students at the London College of Fashion at the University of the Arts and will award grants to organizations such as the British Red Cross, the mentally health foundation and refuge for pets.
Blahnik added: “The numbers alone do not tell the whole story; it is the incredible people behind these results. Our committed and passionate team really makes the difference. I sincerely thank everyone. Your talent and your commitment are the heart and soul of this company. When our employees are successful, our company is also successful and it is also your energy and creativity that can advance our brand.”
Manolo Blahnik tightens wholesale sales
With regard to the future, the company said that the comparable retail sales rose by 14 percent in June 2025 compared to the same month. The group’s e-commerce channel is most powerful: the comparable sales rose by 25 percent in the first half of the year.
The luxury shoe brand added that it has now “successfully” completed the planned consolidation of her wholesale network and that the store opening program “quickly” continued. After the opening in Miami in March 2025, two more new shops in Milan and California are planned this year.
In view of the current sales climate for luxury brands, Manolo Blahnik predicts a “moderate increase in sales” for the 2025 financial year. “Clearer growth” is expected for the 2026 financial year, since the “advantages of the sewer strategy and the branch investments come into play”.
The company emphasized that it was still a “financially robust brand without external debts and with a strong liquidity position”. You can see yourself well positioned to master the continued macroeconomic uncertainty and continue to “deliver extraordinary products and experiences for your global customer base”.
This article was used with digital tools translated.
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