Heeled sneakers are making a comeback, but Isabel Marant is faltering

If the wedge sneakers have recently been dusted off and brought back to the forefront of the fashion scene, their creator, Isabel Marant, is currently experiencing a steep crisis. Indeed, the shares of her eponymous brand have taken a significant hit, marking the most severe drop ever recorded after the French company reported a decline in sales. Despite positive results for 2023, which the designer described as "surprising, reaching a size that allows us to be solid and navigate crises," this year, the crisis has indeed arrived. It remains uncertain whether the mentioned stability will be sufficient to allow a swift recovery. According to Bloomberg News, published this Monday, the company has suffered a 31% drop in sales to wholesalers and online retailers this year, driven by a fall in orders for its recent collections. Overall, it reported a 17% decline in sales for the current year through September 30, compared to the same period in 2023.

A steep fall that Isabel Marant is not facing alone. In the third quarter of 2024, LVMH reported a 4.4% drop in revenue, failing to meet market expectations. Total revenue reached 19.07 billion euros for the quarter ending September 30, falling short of the 20.01 billion euros initially estimated by analysts. Kering, owner of major brands like Gucci and Yves Saint Laurent, announced last month that its annual profit would hit its lowest level since 2016 due to weak demand for its products, especially in China. Returning to Isabel Marant and her future, although there have been some signs of a rebound in demand in the U.S., customer finances “remain fragile.” The steepest declines have been observed in Italy, the United Kingdom, and Asia. Despite these worrying results, the cyclical nature of fashion remains a glimmer of hope for the French brand. After all, few would have guessed that these sneakers, emblematic of the 2000s and the teenage years of many fashionistas, would become the must-have shoe for early 2024 among the fashion world’s cool kids. Perhaps a new revival awaits the brand, or perhaps this difficult period will give it the push it needs to reinvent itself.