Adolfo Domínguez sees third year of profit with 2024 sales up nearly 8%

Adolfo Domínguez, a Spanish fashion brand known for its minimalist aesthetic and the slogan “Wrinkles are beautiful,” closed fiscal 2024 on a positive note. The company increased its sales by 7.8% to reach €136.5 million, while net profit rose 24.4% year-over-year to €0.9 million. This marks the group’s third consecutive year of positive results, although EBITDA declined 2.6% to €16.9 million.

As reported Thursday to Spain’s Comisión Nacional del Mercado de Valores (CNMV), the brand recorded local currency sales growth “in every market where it operates” for the fiscal year spanning March 2024 to February 2025: up 9.4% in Europe, 9.5% in Mexico, 2.4% in Japan and 12.1% across the rest of its international markets.

Europe remains the company’s core business region, with Spain and Portugal as its most important markets. Sales rose by 8% in Spain and 24% in Portugal.

While Adolfo Domínguez’s 7.8% revenue growth is strong, it reflects a slower pace than the previous fiscal year, when the brand reported an 11% increase in sales and nearly quadrupled its annual profit.
 
Gross margin reached €76.6 million but was impacted by “higher logistics costs tied to a supply chain increasingly affected by geopolitical disruptions,” according to the company. Total expenses amounted to €63.1 million, with operating expenses accounting for 46.2% of sales—1.4% less than the previous year.
 
The company continued expanding its retail network, opening 25 new stores during the year, 43% of which were in Europe. It also completed seven relocations and five store renovations. The brand’s e-commerce business, which operates in 31 markets, posted a 25.4% year-on-year increase.
 
“We closed a year marked by rising demand for our collections despite the challenging geopolitical environment, which increased supply chain costs and impacted profitability,” said Adriana Domínguez, executive chairwoman of the brand.
 
Alongside its financial results, the Galicia-based group announced the departure of CEO Antonio Puente. Íñigo de Llano has been appointed general manager. He joins the company from Inditex, where he previously served as international director for Zara’s parent company in Europe.