Adolfo Domínguez, the renowned Spanish fashion brand, has reported a noteworthy reduction in losses for the fiscal year 2021-2022. The company recorded losses of €9.3 million, indicating a striking 52% decrease compared to the previous year. Despite facing challenges such as the outbreak of the omicron variant in the last quarter, the company managed to achieve positive performance in the second half of the fiscal year. Moreover, the sales volume increased by an impressive 39.5% to reach €92 million.

A key contributing factor to this success is the improvement in sales both online and in-store. The like-for-like sales for the year improved by 43.4% when compared to the previous year. Furthermore, the online channel generated €13 million in revenues, which remained consistent with the previous fiscal year. Currently, Adolfo Domínguez has a robust retail network consisting of 348 stores and a strong presence in 19 markets.

In light of these encouraging results, the company recently announced changes to its board of directors. Antonio Puente has been appointed as the new CEO, taking over from the executive chairwoman, Adriana Domínguez. Adriana Domínguez will continue to serve as the group’s president, focusing on the company’s strategy and future endeavors. Meanwhile, Puente will be responsible for managing the day-to-day operations of the brand.

Adolfo Domínguez has also outlined its plans to bring production closer to its home base. As of now, approximately 20% of the company’s production has been moved to Portugal, Spain, Turkey, and Morocco. Additionally, 26% of its collection holds sustainability certificates, highlighting the brand’s commitment to environmental consciousness and reducing its ecological footprint.

Despite the global situation, which includes the challenges of inflation and rising energy and transport costs, Adolfo Domínguez has made the decision not to implement price increases temporarily. Instead, they will focus on other strategies, such as increasing the volume of production to suppliers. The company’s executives also addressed the tense situation in Ukraine, affirming that Adolfo Domínguez does not have a presence in the country, and sales to Russia represent a minimal percentage of their overall sales.

When it comes to international expansion, Adolfo Domínguez has ambitious plans to continue growing in markets like Mexico and Japan, in addition to their home market of Spain. Their aim is to expand their presence while also improving the profitability of their stores. The company holds great optimism for the future and envisions the upcoming year as a period of recovery and progress.

As Adolfo Domínguez celebrates its 25th anniversary as a listed company and the 40th anniversary of its iconic slogan, “Wrinkles are beautiful,” the brand is intent on embracing its legacy while redefining beauty with a more inclusive definition. They strongly believe that their latest fashion shows have effectively conveyed the values they hold dear.

Overall, Adolfo Domínguez has made significant strides in narrowing its losses and enhancing its sales performance. With a new CEO leading the way, a steadfast commitment to sustainability and profitability, the company finds itself well-positioned for future growth and success.

Useful links:
Adolfo Domínguez Official Website
Five Ways Adolfo Domínguez Can Build a More Sustainable Fashion Future