Bimba y Lola closes 2024 with sales of 234 million euros

Madrid – Spanish fashion brand Bimba y Lola has reported its performance for the full year 2024. The financial year, which ended on February 28, saw the company, founded by sisters Uxía and María Domínguez, grow by 3 percent, driven by online sales.

According to the fashion firm’s management, Bimba y Lola closed 2024 with total sales of 234 million euros. This figure represents a 3 percent increase compared to the 227 million euros the brand generated in 2023. This resulted in a 3.54 percent increase in sales compared to the 226 million euros in turnover that Bimba y Lola recorded in its 2019 financial year, the first time since the coronavirus pandemic.

This performance shows a marked positive trend. Bimba y Lola has not only recovered and exceeded its pre-pandemic turnover levels, but has also strengthened its operations. However, the company has not reported on how this performance is reflected in the company’s profitability.

“In the context of a rapidly changing market, Bimba y Lola continues to consolidate its global development project, not only taking it to new markets for another year, but also expanding its operations to new channels such as international airports and various leading online marketplaces,” said Jose Manuel Martínez, chief executive officer of the Spanish fashion brand. He also reflected on the past year, saying that the company’s expansion into new markets was accompanied by a continuous reinforcement of its resources and capabilities. He highlighted the new headquarters that Bimba y Lola opened last November. Martínez added: “For all these reasons, we close the year 2024 grateful, as always, to the brand’s customers and to all the people who contribute daily to the growth of our project.”

15 percent growth online

Analysing Bimba y Lola’s performance in greater detail throughout 2024, by sales and distribution channels, the Spanish fashion brand added 20 new stores during the year, an increase of 290 to 310 stores. This physical retail network generated approximately 79 percent of all its sales in 2024, worth around 184.86 million euros (plus 0.53 percent). This shows a stagnant value compared to the 183.87 million euros generated by its physical retail network in the previous year.

The brand’s digital turnover grew by 15 percent, increasing from 19 to 21 percent of total sales. This percentage translates into an online turnover of 49.14 million euros, making the digital channel the main driver of the company’s growth in 2024.

Regarding markets, Bimba y Lola highlighted that its international business accounted for 44 percent of the group’s total revenue, remaining constant compared to the previous year. This indicates that Bimba y Lola has managed to maintain its growth in Spain and internationally. It is now active in 52 countries, compared to 50, in terms of physical stores and online presence. Sales in Spain closed 2024 at 131 million euros (plus 3 percent), while international sales reached 102.96 million euros (plus 3 percent).