Brownie achieves turnover of 91 million euros, focuses on strategic store openings

Brownie’s proposition of youthful fashion reached record levels for its 2023-2024 fiscal year, which concludes this coming February. During this period, its gross sales will amount to approximately 91 million euros (about 99 million dollars), representing a 35% increase, according to information obtained by the newspaper Expansión.

In 2023, the Barcelona-based brand, blending timeless essentials and trendy pieces, inaugurated 21 new points of sale: “four stores in Spanish shopping centers and one in France, six corners in El Corte Inglés, and 10 franchised locations outside of Europe,” as highlighted by Expansión.

This slower pace of store openings, compared to its ambitious expansion strategy from the previous year, will continue in 2024, with new proprietary store launches exclusively in Spain and Portugal, which will bolster its brand positioning. For the rest, Brownie seeks to only refurbish or relocate existing outlets throughout this year.

However, when it comes to franchises, the brand aims to maintain its momentum in Mexico, its largest market in Latin America, by opening eight new stores, in addition to its existing 31. Furthermore, it will make its debut in Colombia in May and in September, Brownie will venture into Uruguay, specifically the seaside city of Punta del Este.

The company projects to surpass the 2.87 million euros in gross operating profit achieved during its 2022/2023 fiscal year.

The popularity of the Barcelona-based brand has led it to manage both proprietary and franchised stores in various regions beyond its native Spain, including Portugal, France, Mexico, Chile, Andorra, and Israel. In addition to El Corte Inglés, it also has corners in the French department store Printemps. In total, its network of points of sale encompasses 116 locations.

The brand was founded in Barcelona in 2006 by the spouses Juan Morera and Mercedes Ortega, with the aim of offering fresh, functional pieces that bring happiness to those who wear them. Currently, the company employs over 450 individuals.