Adolfo Domínguez quadruples its annual profit, reaching €126.7 million in sales

Adolfo Domínguez achieved a net profit of €730,000 during its fiscal year 2023-2024 (from March 2023 to February 2024), marking a near fourfold increase (365.1% rise) from the €157,000 recorded the previous year, according to reports submitted to the National Securities Market Commission (CNMV) this Friday.

In the last fiscal year, the company recorded revenues of €126.7 million, up 10.9%, “solidifying its recovery and generating a positive net profit for the second consecutive year,” the brand stated.

Notably, the company surpassed its pre-pandemic sales figures and generated an additional €6.1 million in earnings before interest, taxes, depreciation, and amortization (Ebitda), despite operating 30 fewer retail locations compared to the fiscal year 2019/2020. Consequently, Ebitda for this period stood at €17.4 million, representing a 30.1% increase from the previous year.

Sales increased across all operational markets, with notable growth recorded in Europe (8.8%), Mexico (10.4%), Japan (12.7%), and in all the other 17 countries where the company maintains a presence.

In recent years, Adolfo Domínguez has aggressively expanded its international footprint. International stores now represent 60% of the company’s retail network. The brand also reported a 21.9% increase in online sales, highlighting its successful digital strategy.

“We billed €11.8 million more than in 2019/2020 with 30 fewer stores and solidified our recovery. We are laying the groundwork for our future growth, all without losing focus on efficiency. We continue to drive our international expansion while modernizing and optimizing our operational processes,” explained Adolfo Domínguez’s CEO, Antonio Puente.

In its latest fiscal year, Adolfo Domínguez partnered with global retail giants such as Chalhoub Group, planning 16 new store openings by 2027 in the Middle East; Galeries Lafayette, which saw the introduction of three new French locations over the past year; and Palacio de Hierro, its principal collaborator in Mexico, where it has established 92 retail points, including eight new ones last year.

Additionally, the brand recently renewed its contract with Puig for the distribution of its fragrances, which will commence trading on May 3.

From March 2023 to February 2024, Adolfo Domínguez expanded its presence with new stores in Spain (11), France (four), Portugal (three), Mexico (12), Japan (five), and other international markets (12).

Currently, the company employs 1,007 professionals and operates 360 sales points across 24 countries