Manolo Blahnik sales bounce back after tough year for footwear firm

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Took

Ondeon-headquartered footwear brand Manolo Blahnik has become the latest luxury retailer to report a jump in sales.

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The company, founded by Manolo Blahnik in 1970, said comparable sales in the eight months to August 31 are up 81% from the previous year and 8% from the same period in 2019.

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This was helped by a surge in online demand, and the retailer, which has 21 standalone shops, is forecasting triple-digit growth for 2021.

Like rivals, the shoe brand was hit by lockdown last year, and overall sales fell 7% to €42.3 million (£36 million) in 2020, a figure such that it is down 28%.

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It reduced its collection from four to three seasons during this period, as Covid-19 disrupted business.

But it joins with other upmarket retailers reporting an encouraging recovery this year.

In July, Susanna Streeter, an analyst at Hargreaves Lansdowne, said: “After starting the lockdown, the release from confinement has sparked a wave of festive spending power. Many wealthy individuals are in a position to accumulate savings over the pandemic. “

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