Munich, the Spanish brand of sports and lifestyle sneakers, has reported sales of €40.9 million for 2020, down 8 percent year-on-year, but still up from 2018. The Catalonian shoe brand says the effects of Covid-19 were “significantly more favorable than projected.” About 88 percent of the revenues were generated in Spain. There were declines of 5 percent apiece in Munich’s fashion and sports categories, but sales of fashion accessories rose by 37 percent. On the retail front, own-store sales dropped by 10 percent to a little more than €11 million, while online sales rocketed by 161 percent to €5.6 million, thanks to a marketing push during the worst of the lockdowns. Munich has increased the number of its mono-brand stores over the past five years to 20 and expects to open more this year. As for exports, which declined overall by 8 percent but exceeded the 2018 tally, the main markets in Europe remain Italy and France. Elsewhere, the focus is on Asia, Indonesia and South America. Sports shoes accounted for 66 percent of export sales, split between some 40 countries on five continents, chief among them Italy, the Netherlands, Russia and the Eastern European market. Many of these countries love futsal, a sport in which Munich is well established. Fashion items were sold in about 20 foreign countries.

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