Spanish sneaker brand Munich expects its sales to jump by around 35 percent in the full fiscal year ending March 31, 2023, to reach €65-70 million. In an interview with trade publication FashionNetwork, Munich CEO Xavier Berneda said that the company’s revenues are projected to exceed last year’s record sales of €52.6 million, considering that sales in the current first half reached €33 million.
The brand has just opened two new shops, at Terminal 4 of Madrid Barajas airport and Terminal 1 of Barcelona El Prat airport. Two more flagships are scheduled to open in Kuwait City on Feb. 8, and London’s Regent Street shortly afterward, Berneda said.
Munich was founded in 1939 by Luís Berneda in Sant Boi de Llobregat, near Barcelona. Berneda was indeed the initial name of the brand, later modified to Munich in 1964. Xavier Berneda represents the fourth generation of the founding family. The brand is best known for its technical shoes for futsal and tennis but also offers athletic footwear for other sports like handball, rugby, boxing and, increasingly, padel. The company launched its first fashion and lifestyle lines in 2000. Spain accounts for 50 percent of Munich’s sales, followed by Italy, Netherlands and Brazil. By distribution channel, direct e-commerce sales account for 22 percent of its overall turnover. The company launched its e-shop back in 1997.
