Manolo Blahnik has entered its 50th anniversary year with high hopes, and relief that the COVID-19 crisis, which dented sales and profits last year, is winding down.
The brand said Monday that fiscal 2021 is forecast to be the group’s most successful year to date, with turnover for the eight months to Aug. 31 up by 81 percent year-on-year and 8 percent compared with 2019.
In the full year, global e-commerce sales are set to rise in the triple digits. In the eight months to Aug. 31, sales were up 120 percent compared to the same period in 2020.
“As we celebrate our 50th year, we do so in confidence and are hopeful that it will be our best yet,” said Kristina Blahnik, the company’s chief executive officer.
Last year was a tough one for Manolo Blahnik, which saw sales decrease by 7 percent to 42.3 million euros in the 12 months to Dec. 31, 2020.
The company booked a loss of 4.75 million euros, an increase of 6 percent on the previous year’s figure, due to COVID-19 the integration of the U.S. business, foreign exchange rates and a slight decline in gross margin.