Loewe posts 62.5% profit increase in 2023, reaching €207 million

Luxury Spanish brand Loewe closed 2023 with a net profit of €207.3 million, marking a 62.5% increase compared to the previous year, when it recorded a profit of €127.5 million. The company has also approved a total dividend distribution of €232.4 million.

Specifically, Loewe’s revenue grew by nearly 30%, reaching approximately €810.8 million, while its sales rose by 27.5% to €789.3 million. Its operating profit amounted to €247.5 million, reflecting a 77% increase, according to the company’s financial statements filed with the Commercial Register and shared by Infoempresa with Europa Press.

In 2023, the brand’s operating expenses rose to €370 million, a 35% increase, attributed to the expansion of the company’s business activities.

Additionally, the fashion house, which is part of French luxury group LVMH, approved in its annual general meeting that all 2023 profits will be fully distributed as dividends.

This is complemented by an additional dividend of €25.1 million, drawn from freely available reserves, resulting in a total dividend distribution of €232.4 million.