Manolo Blahnik has reported its “second-best year ever” despite a 10% YoY decline in group turnover to 106.5 million euros ($117.15 million) for the year ending December 31, 2023, reflecting the impact of a global luxury market slowdown. The company’s operating profit remained robust at 15% of total revenues, although profit before tax dropped by 30% to 15.4 million euros ($16.9 million). Amid challenging macroeconomic conditions, the brand is carefully managing costs while advancing its global investment plans, with key expansions in Hong Kong, North America, and Europe. CEO Kristina Blahnik emphasized the brand’s strategic progress in restructuring its distribution channels and preparing for consumer confidence to return in 2025, leveraging its independent, financially stable business model.