Munich: Drop of Only 8% in 2020 with the Second Best Record in its History
The Catalan sports fashion company ended the last year, closed last March, with a turnover of 40.9 million euros. Initial forecasts were down 30%.
Munich resists the onslaught of Covid-19. The Catalan fashion and sports equipment company ends 2020, closed last March, significantly improving the forecasts made a year ago. The company, which expected to end the year with a 30% drop, closed the year with a decline of only 8% and the second best record in its history.
Controlled and led by the brothers Xavier and David Berneda, Munich closed 2020 with a turnover of 40.9 million euros, compared to 44.4 million euros the previous year. In 2018, the company registered a turnover of 40.5 million euros and a year before, of 35 million euros.
The good moment that the sports category has experienced during the pandemic, driven by sports practice and the search for comfortable clothing by consumers, has served Munich to cushion the blow of Covid-19.
The company’s fashion footwear sales have fallen by 5% and those of sports footwear have fallen by the same percentage. These falls contrast with those of the sector average: according to Euromonitor data, women’s footwear fell by 19.6% and men’s by 18.6%; sports, for its part, fell 9.5%.
The company, whose sales of fashion accessories rose 37% in the last year, suffered especially in the retail channel as a result of the closures decreed to contain the advance of the pandemic. The group’s own stores ended 2020 with a turnover of more than 11 million euros, which represented a decrease of 10% compared to the previous year.
Munich currently has a network of twenty own points of sale, distributed between the province of Barcelona and its surroundings, Andorra, Mallorca, Madrid, Zaragoza and Seville. The company, which plans to continue opening new points of sale in 2021, has launched stores in Igualada (Barcelona) and Getafe (Madrid) in the last year, both in outlet format.
In the online arena, on the other hand, Munich has skyrocketed its business. In the last financial year, the company registered Internet sales of 5.6 million euros (taking into account its own platform and that of third parties), which represented an increase of 161% compared to 2019. This growth is due, according to the company, “to the push of ecommerce and to concentrate resources on marketing to boost sales through this channel during the toughest months of the pandemic.”
By markets, the company has registered a decline of 8% in its international sales, despite having continued to grow in the European Union, especially in Italy and France, and outside the European Union, mainly in Asia, Indonesia and Latin America.
The sports collection currently represents 66% of the total export turnover, with a presence in forty countries on the five continents, especially in those with penetration of futsal. The fashion collection accounts for 34% of the export turnover and is marketed in more than twenty countries.
The company has strengthened its Duuo brand in recent months, specializing in sustainable and vegan streetwear sneakers. This brand, which is part of the holding Bern2Run, has registered a sales drop of 9% and in the last year it has jumped into the retail channel with its first physical store