Bimba y Lola Debuts in Shanghai, Revitalizes Asian Growth Strategy

Bimba y Lola expands in China. The Spanish fashion and accessories brand has reactivated its expansion strategy in the Chinese market with the opening of a new permanent store in the Réel Mall in Shanghai. The company has announced the opening of its first store in the country, after joining with a local group in 2021 to carry out its expansion strategy.

The company will open its new permanent space in the Réel Mall, located in the heart of the city, has become a benchmark of contemporary urban luxury in Shanghai.

In 2021, the group already set in motion its plans to enter the Chinese market, when it signed an agreement with the company ImagineX to manage its distribution in Asia, which included the launch of thirty stores in China.This included the launch of thirty stores in the country’s main cities, such as Shenzhen, Chengdu and Beijing, as well as its entry into Tmall, one of the largest online retail platforms in the region.

Bimba y Lola increased its sales in the digital channel although it closed 2024 with flat sales.

Since then, however, the expansion plan, scheduled for the next five years, has not resulted in any of the planned openings. The outbreak of the pandemic has taken its toll on the Asian giant’s consumer market, with the population losing part of its purchasing power and mainly affecting the business of the country’s luxury giants. In 2022, however, Bimba y Lola opened a pop-up store in the same city.

The Galician women’s fashion company ended the 2024 financial year (concluded at the end of February) with another year of slightly upward sales, with a growth of only 3%, up to 234 million euros in turnover. According to the company’s press release, sales at constant exchange rates rose by 4.5% in fiscal 2024. In 2023, the group posted growth of only 1%.

In the digital channel, Bimba y Lola’s sales increased by double digits (up 15%) over last year. By the end of 2024, online sales accounted for 21% of the group’s total.