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We once again made strong progress this year with double-digit growth year-on-year, confirming our new strategic direction and driven by increased brand preference, exciting product collections and an enjoyable shopping experience.
Mennedorf Switzerland And Watts, Austria, March 13, 2024 /PRNewswire/ —
The family-run Swarovski Crystal Business today announced its financial results for the financial year. December 31, 2023.
The company achieved solid and broad-based growth of +4% year-on-year to €1,832 million. This builds on strong growth of +10%* in real terms, significantly outpacing market growth amidst a slowdown and volatile luxury market. geopolitical and macroeconomic environment;
Despite the significant negative currency impact, EBIT before restructuring charges returned to positive territory for the first time since 2019. A strong fourth quarter was key to boosting his overall performance in 2023, with sales growing +9% and his EBIT before restructuring charges hit his highest level since Q3 2018. achieved.
These 2023 achievements reaffirm Swarovski’s strategic direction and ongoing business model transformation, aimed at reaffirming its iconic heritage in today’s contemporary spirit.
“These strong results further reaffirm the relevance of the LUXignite strategy and the enduring power of our iconic brand and unique savoir-faire. I am deeply grateful for the passion and dedication of the Board of Directors and shareholders for their steadfast support,” says the CEO. Alexis Nasard. “Our focus in 2024 is to execute our strategy in a disciplined manner, with a continued focus on supreme creativity in our product collections and communications, and further investment in our retail network and key brand moments. It is located in.”
Broad organic growth in 2023
– Across all business categories, retail sales increased by +4% and B2B Crystal increased by +5%.
– All major product categories, led by jewelry, up +6%.
– All top 10 markets achieved similar growth, with sales in major cities increasing by +13%.
– Omnichannel growth was +5% offline, +4% online and +11% on swarovski.com.
– Significant +36% increase in store profitability.
Significant profit and cash improvement
The company achieved positive EBIT before reducing restructuring costs, due to a significant improvement in its net debt position, despite the negative impact of currency fluctuations. This improvement was enabled by increased cash flow generation, in addition to growth and improved operating leverage.
Exciting collections, retail concepts and key brand moments
Continuous improvement of the brand’s jewelry and home collections, communications campaigns and retail experience under the leadership of Swarovski’s Creative Director. Giovanna Engelbertcontinued to cultivate the brand’s equity and status as an icon of pop luxury.
Additionally, 2023 marks the beginning of many new chapters in the brand’s 128-year history, with the opening of a stunning new flagship store. new york and Seoul, a shocking collaboration with SKIMS, and the launch of a new eyewear collection in collaboration with licensing partner EssilorLuxottica further expands the brand’s reach.In addition, a landmark exhibition Masters of Light – From Vienna Shanghaiwas a true celebration of the brand savoir-faire and a rich heritage. On the product side, the iconic Millennia collection continued to show sustained growth, with the launch of new collections. galaxy Inspired by the birth of the universe, the Swarovski Created Diamonds collection marks a new step in our commitment to lab-grown diamonds.
As a result of the above, the brand’s favorability has increased significantly, increasing its appeal to Millennials and Gen Z.
2024
The company’s focus in 2024 is to maintain and accelerate profitable growth as an integral part of LUX.ignition We continue our transformation journey as we continue to elevate our brand, improve the shopping experience, and maintain financial discipline.
About Swarovski
Master of Light since 1895
Swarovski creates beautiful products of impeccable quality and craftsmanship that bring joy and celebrate individuality.
Founded in 1895. AustriaThe company designs, manufactures and sells the world’s finest crystals, Swarovski Create Diamonds and Zirconia, jewelry and accessories, as well as upholstery and automotive crystals. The Swarovski Crystal Business has approximately 6,600 sales locations (2,300 owned stores) in more than 150 countries and employs 16,600 people. The Swarovski Crystal Business, together with sister companies Swarovski Optic (optical devices) and Tyrolit (abrasives), forms the Swarovski Group. A responsible relationship with people and the planet is part of Swarovski’s heritage. Today, this tradition continues with Sustainability measures across the value chain, with a focus on circular innovation, championing diversity, inclusion and self-expression, and Swarovski, which supports charities that have a positive impact on the environment and society. Rooted in the Foundation’s philanthropy. .
Note: Numbers are preliminary, unaudited and subject to change. The annual consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). All values are disclosed in euros.
*Growth rates are measured in constant currencies and real growth rates for owned offline and online retail stores operating for +12 consecutive months are measured in constant currencies.
Media contact:
carla otto new york
lake jamila – [email protected]
crystal tang – [email protected]
Source Swarovski
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