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Swarovski grows 4% in 2023

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Translated by

Nicola Mira

Published



Mar 14, 2024

In 2023, Swarovski generated a revenue of €1.83 billion, up by 4%, thanks largely to a solid Q4, during which revenue grew by 9%. EBIT before restructuring costs was back in the black for the first time since 2019.
 

Alexis Nasard, CEO of Swarovski

“These strong results further reconfirm the pertinence of the LUXignite strategy and the lasting power of our iconic brand and unique savoir-faire,” said CEO Alexis Nasard. “Our focus in 2024 will be on the disciplined execution of our strategy, with a continued emphasis on superlative creativity in our product collections and communication, and further investments in our retail network and major brand moments,” he added.
 
In 2023, Swarovski reported growth in all its lines of business – with retail sales increasing by 4% and the B2B crystal business by 5% – and all major product categories, driven by jewellery, whose revenue increased by 6%. Swarovski’s top 10 markets all recorded consistent growth, and sales in the brand’s key cities rose by 13%. Offline sales posted a 5% increase and online sales a 4% one, while sales via Swarovski’s directly operated e-shop grew 11%. In 2023, Swarovski recorded a sharp increase in the profitability of its stores, which improved by 36%.

Last year, Swarovski opened two new flagships in New York and Seoul, started a partnership with Skims, and launched a collection of glasses produced under licence by EssilorLuxottica.
 
The Swarovski group comprises Swarovski Crystal Business (SCB), Swarovski Optik (active in optical devices) and Tyrolit (active in abrasives). SCB distributes its products via approximately 6,600 stores – 2,300 of them directly owned – in over 150 countries, and employs 16,600 people.

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