Fran Marchena left banking for sneakers, built a billion-crown firm

Spaniard Fran Marchena walked away from a banking career to pursue a childhood dream — his own footwear brand. Within just a few years, his company Hoff grew into a business with annual revenue of nearly 1.9 billion crowns, and the brand’s sneakers even caught the eye of Mark Zuckerberg.

Marchena could have had a calm, stable career in banking — and for almost ten years, he did. He worked at the Spanish bank Banco Santander, ran its main branch in Benidorm and took part in the bank’s transformation in the Valencian Community. But he had known the shoe business since childhood: his father spent a quarter of a century in footwear, and at some point Marchena decided he wanted to pursue his own dream rather than someone else’s career plan.

He began developing the Hoff brand while still working at the bank, and once the concept had fully taken shape, he left his corporate job to pursue the project in earnest. That happened in 2017. “It’s simple — I wanted to fulfill my dream of having my own brand,” he explained later. He personally guaranteed the startup loan with his own funds, because, having worked in banking, he understood perfectly well that financing doesn’t come without personal risk.

Hoff launched with a collection of roughly five thousand pairs of sneakers, and the first stage of growth relied mainly on online sales. A recognizable product helped: bright retro-style models named after cities and featuring soles with photographic prints. The design was striking enough for social media, yet versatile enough to pair with both sporty and city looks.

The company didn’t stop at online sales. Hoff gradually moved into multi-brand stores and major shopping centers, and then began opening its own retail outlets. Besides sneakers, the range expanded to include other footwear, clothing, bags and accessories. Within a few years, the business grew from a single small collection to selling more than a million pairs a year, with a presence in Europe’s best-known fashion capitals.

The financials reflect this pace of growth. In 2024, Hoff earned 66 million euros (about 1.6 billion crowns) — 21% more than a year earlier. Last year, revenue reached around 77 million euros (nearly 1.9 billion crowns), and by 2030 the company plans to increase its turnover fivefold.

The company is betting on further expansion: Hoff is now present in more than twenty countries worldwide. While its home market of Spain remains the most important, the brand is quickly gaining popularity in France, Germany, Portugal and the UK — notably, its store in London’s Covent Garden has become one of the company’s key footholds abroad.