Manolo Blahnik opens corner in Paris department store Bon Marché
The British luxury shoe brand opened a corner in Paris' Bon Marché department store on Monday, alongside other luxury brands Chloé, Celine, Dior and Chanel.
Since 2019, Manolo Blahnik has also opened a boutique in Paris, located in the Palais Royal. The brand also has boutiques in Geneva, New York, Dubai, Abu Dhabi, Doha, Hong Kong, Tokyo and Taipei. And the opening of a new retail space in the Paris department store marks the ongoing development of the brand's international expansion.
The opening of the Manolo Blahnik boutique in Shanghai is expected on November 4.
"We have a joint venture with Bluebell in Asia and will be opening our second and third stores in Hong Kong. We will also be opening in Shanghai on November 4th. This will be our first visit to China, a country we have been very focused on for the last 18 months. We will also be opening a space in Miami early next year, in the Design District," says the brand's CEO, Kristina Blahnik.
According to her, the company is primarily focused on developing the direct sales channel. "This is the model we want to develop the most. We want to find the perfect balance and we are almost there, between B2B, D2C and our own stores. Direct sales can grow and provide half of our sales," she says.
Still under the control of the founding family, Manolo Blahnik has avoided the downturn currently seen in the luxury goods segment.
In August, the company reported results showing "strong operating profit" for its "second-best year to date."
However, in the twelve months ending at the end of December, the company's revenue fell from €118,2 million in 2022 to €106,5 million in 2023. Profit before tax, in turn, fell by 30% to €15,4 million, in line with the group's forecasts. On the other hand, operating profit remained high and accounted for 15% of total revenue.
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The British luxury shoe brand opened a corner in Paris' Bon Marché department store on Monday. The corner with the famous brand's collection is located next to the retail spaces of other luxury…
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