Loewe posts €885 million turnover in 2024 despite 24% drop in profit

The Spanish luxury house continues to accelerate its growth. Loewe SA, the principal operating company of the LVMH-owned brand, posted turnover of €885.2 million in the 2024 financial year, up 9.2% on the previous year.

The sales momentum did not prevent a decline in net income, according to the business daily Expansión, citing the accounts filed by the company with the Mercantile Registry. The company’s profit declined 24% year-over-year to €157 million, primarily due to a broad-based increase in operating costs. The entire profit was distributed to shareholders, the majority of whom were affiliated with LVMH through its Dutch (76.72%) and French (23.28%) subsidiaries. In total, Loewe has distributed more than €600 million in dividends to the luxury group over the past four financial years.

By market, the Europe, the Middle East, and Africa (EMEA) region led activity with €246.8 million, up 18.7%. Japan and the United States also performed well, growing 27.6% and 31.2%, respectively. However, the rest of Asia posted a 13.8% decline, down to €193 million. By distribution channel, wholesale generated €129 million, online sales reached €21.3 million, and the company’s equity holdings contributed a further €18.5 million.

Founded in Madrid in 1846 and renowned for its artisanal heritage, the brand has, since March 2025, had the designer duo Jack McCollough and Lázaro Hernández — founders of Proenza Schouler — at the helm of creative direction, succeeding Jonathan Anderson. Anderson left his post at Loewe after a decade to focus fully on his new role at the helm of Dior, another of the key houses within French businessman Bernard Arnault‘s group.