After a protracted 22-year legal battle to secure its trademark in mainland China, luxury shoemaker Manolo Blahnik has finally made its grand entrance.
The iconic brand, famed for its celebrity clientele and prominent appearances in the hit television series ‘Sex and the City’, has opened its first boutique in Shanghai’s upscale Plaza 66.
Expansion plans: a strategic focus on the Chinese market
This Shanghai opening marks the beginning of a significant expansion strategy for Manolo Blahnik in China.
The company anticipates opening one new store annually for the next five years, with Beijing and Chengdu slated as the next likely destinations.
This ambitious plan demonstrates the brand’s commitment to cultivating a strong presence in the Chinese luxury market.
A trademark triumph: reclaiming the Manolo Blahnik name
The brand’s journey into China was far from easy.
A local businessman registered trademarks related to ‘Manolo Blahnik’ in 1999, significantly hindering the company’s ability to operate under its own name.
However, after a two-decade legal struggle, the Supreme People’s Court of China ruled in favor of Manolo Blahnik two years ago, paving the way for its official entry into the market.
A renewed focus on Asia: China and Hong Kong expansion
“We were very, very grateful to reclaim our trademark,” stated CEO Kristina Blahnik, niece of the brand’s founder.
Before that point, we were just focused on getting it back. (Since then) we very much turned our head towards Asia.
This renewed focus is evident not only in the Shanghai opening but also in the launch of two new stores in Hong Kong in October.
Navigating a challenging market: confidence amidst a slowdown
Manolo Blahnik’s China debut comes at a time when many luxury brands, including LVMH, are experiencing declining sales in the world’s second-largest luxury market.
This slowdown is attributed to factors such as tepid economic growth and weakened consumer confidence.
However, Blahnik expressed unconcern, emphasizing that the brand is still in its nascent stages in China and confident in its long-term potential.
According to research firm Statista, China’s luxury footwear market is currently valued at approximately $5 billion and is projected to grow by 7.6% annually through 2029.
Manolo Blahnik will face competition from established international players like Jimmy Choo and Christian Louboutin, both of which have enjoyed a presence in China for over a decade.
Nevertheless, with its iconic designs and newly secured trademark, Manolo Blahnik is poised to carve out its own niche in this dynamic and lucrative market.
The post Manolo Blahnik’s China arrival: a 22-year journey culminates in Shanghai boutique appeared first on Invezz
