Manolo Blahnik annual profits decline

Worldwide
Published:  08 October, 2018

The poorer sales performance of the high-end footwear label comes after the introduction of a men’s shoe range.

Manolo Blahnik’s profits are reported to have declined -28% in the year ending December 31, 2017, from £9.7 million (US$12.64 million) to £7 million (US$9.12 million), despite turnover rising +2% in the year to £30.6 million (US$39.88 million).

The Company has attributed the performance to currency fluctuations as well as increased staff and marketing costs.

As reported by ILM, the Spanish designer, who launched his first men’s shoe collection in the 1970s, aims to grow the men’s footwear business of his luxury label by 20%.

Sources: Drapers/This is Money