British brand Mallet London has posted a 36.4% year-on-year growth in sales of men’s footwear for the year ending 31 January 2024, reaching a turnover of £8.5 million.
The growth has been driven by the brand’s revamped digital marketing and direct-to-consumer strategies, with online sales seeing an increase of 9%.
The company’s strategic focus on the Middle Eastern market has also delivered “exceptional results”, with an 86% rise in regional sales.
Mallet London has also broadened its product ranges including across clothing and accessories, as well as a “more versatile” footwear line spanning both casual and more formal styles.
A statement from the company said that despite significant successes, “certain newly launched sneaker lines under previous creative leadership fell short of expectations last year”.
In response, Mallet London says it has reassessed its approach to align more closely with market demands.
The brand has also “recalibrated its wholesale strategy” to emphasise direct-to-consumer channels and key wholesale partnerships, to set the stage for future growth. There’s also two new collaborations on the horizon.
Mallet London was founded in 2015 by former The Only Way Is Essex star and entrepreneur Tommy Mallet (real name Fordham). He resigned from his position as Director on 31 October 2023, and at the start of 2024 launched a new “spiritual sneaker brand” called CTRNE, which gets its name from the Citrine crystal which are embedded in the soles of the shoes.
