The Austrian specialist in synthetic crystals and diamonds had a very good year in 2023, thanks in particular to initiatives that boosted its aura among the Millenium and Z generations.
Despite its 128 years of age and an increasingly tense environment for the luxury goods industry, Swarovski Crystal Business still sees the future as rosy.
Its performance in 2023 is indeed cause for optimism.
Last year, the Austrian crystal specialist recorded “solid, broad-based growth”, up +4% (+10% on a like-for-like basis) on 2022 to €1.832 million. This is a pace “well ahead of market growth in a slowing luxury goods market and a volatile geopolitical and macroeconomic environment”, enthused the family-owned group in a press release.
Another welcome surprise: its “EBIT before restructuring costs returned to positive territory for the first time since 2019, despite a significant negative impact from exchange rates”.
A solid fourth quarter
This performance is all the more auspicious given that Swarovski Crystal Business ended the year on a “solid fourth quarter”, “with sales growth of +9% and EBIT before restructuring costs reaching the highest level since the third quarter of 2018″.
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Featured Photo: © Swarovski
