After a 22-year legal battle over the right to use its name, Manolo Blahnik, the high-end foot company with some famous fans and frequently seen in the TV series Sex and the City, has opened its primary business in mainland China.
The firm anticipates opening a business every year in China for the next five years, with Beijing and Chengdu as possible locations as the next two. In addition to the new store in Shanghai’s Plaza 66 luxury store.
After a local businessman filed trademarks related to” Manolo Blahnik” in 1999, the shoemaker, which had been given the name of its Spanish founder, had been hampered in China.
Although China is a” first to file” jurisdiction that does n’t require businesses to establish prior usage to file trademarks, a ruling from the Supreme People’s Court of China two years ago found in the company’s favor.
” We were very, very grateful to reclaim our trademark. Before that point, we were just focused on getting it back. ( Since then ) we very much turned our head towards Asia”, Chief Executive Kristina Blahnik, who is the founder’s niece, said in an interview.
In October, the company added two more locations to its Hong Kong footprint.
Its long-awaited mainland China debut comes as high-end brands such as LVMH have seen sales slide in the world’s second-largest luxury market, hurt by tepid economic growth and weak consumer confidence. However, Blahnik claimed that she was unconcerned because the business is only just beginning to grow in China.
According to research firm Statista, China’s luxury footwear market is estimated to be worth about US$ 5 billion this year and will grow 7.6 % annually through 2029. Manolo Blahnik will compete with international brands like Jimmy Choo and Christian Louboutin, both of which have a history in China and have been there for more than ten years.