Companies

Hoff closes 2023 on the upside

Dec 29, 2023 Spain

In the midst of a rapid expansion, the Spanish-based sneaker brand reported a fiscal 2023 turnover increase of 45%, as compared to the prior year, reaching 53 million euros

Hoff closes 2023 on a positive note and looks to the future with optimism: not only has it reported a 45% increase in annual turnover year-over-year, but it continues to expand rapidly. It now expects to reach 100 million euros in turnover by 2025.

Founded in 2017 by Fran Marchena focusing on sneakers and online distribution, the company has grown to a global retail presence of 28 stores and 17 points of sale. Just recently, Hoff opened new stores in San Sebastián, Santander, London and Lisbon and signed two franchise agreements in Mexico, In addition, it made its first steps in the Middle East with two new points of sales in Israel, also through a franchise partner.

Meanwhile, for 2024, it plans to open new stores in Spain in cities such as Córdoba, Murcia, Granada and A Coruña, but also to strengthen its presence in Europe, as well as continue to grow in Latin American countries through franchises. “The aim is to become a brand of relevance at an international level”, says Francisco Marchena, the company’s CEO.

In the next five years, the footwear company plans to open between nine and thirteen stores in Colombia, Peru, Panama, Chile and Costa Rica, as well as other parts of the Middle East. The company added that its goal is also to generate 35% of its sales through retail, reducing the weight of the online market, and to increase its presence in the multi-brand channel by between 50% and 45%.

Source: modaes.es

Image Credits: edisac.com

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