Tous announced its financial results at the end of the 2024 financial year. The year that a new strategy plan was accompanied by a turning point for the jewelry company that exceeded the sales brand of 500 million euros for the first time in its history.
Starting from the information published on Tuesday, Tous finished in 2024 with sales of 523 million euros. This corresponds to an increase of 9.6 percent compared to the 477 million euros in sales in the previous year and growth of 32.4 percent compared to the 395 million euros in sales in 2019, the last financial year before the effects of coronavirus pandemic.
With regard to profitability, Tous reported a result adjusted for special effects before interest, taxes and depreciation (EBITDA) of 114 million euros (-1.72 percent compared to the previous year), which led to a net profit of 45 million euros. This corresponds to a decline of ten percent compared to the 50 million euros in profit in the previous year, but still an increase of 50 percent compared to the 30 million euros net profit in 2019. Tous attributes the decline in profits to exchange rate effects.
“In 2024 we successfully achieved the goals set for the first year of the ‘Gem’ plan,” emphasized Carlos Soler-Duffo, CEO von Tous, in a statement published by the management. “Tous today is a stronger brand with a solid global presence and a unique differentiation feature in the jewelry segment”, in addition to “solid levers that have been reflected in the results and on which we will continue to work in order to promote our sustainable growth”.
Organic growth with new business formats
If one looks at the development of the company in the course of the 2024 financial year, sales in the tous businesses with 400 million euros (+8.9 percent) accounted for 76.5 percent of the company’s total sales. The online channel rose from 23 to 23.5 percent of total sales within one year and reached 122.9 million euros (+12 percent).
With regard to the channels, Tous emphasizes that sales growth in stationary trade was achieved in one year in which the sales network remained stable. The increase in sales was promoted through the modernization and renovation of the branch network with around 50 renovations over the course of the year. These improvements served to develop new shop concepts, such as the first sales outlets of the new formats, which are only dedicated to the TOUS Atelier and Suot Studio lines. In the online area, the company went one step further towards internationalization with the introduction of its new global website in 2024. The new website complements the network of more than 600 tous businesses in 40 countries.
As for the development according to countries and regions, Tous was limited to pointing out that organic growth in 2024 “in all regions, including the more mature markets for tous” such as Spain and Mexico, was generally widespread. With these activities, the brand was able to strengthen its global position, one of the main goals of the “Gem” plan. The collections for glasses, watches and perfumes, which were produced via license, also contributed to this and generated a total of around 200 million euros in the end customer business.
After investing of EUR 31 million in 2024, infrastructure and IT plans to invest 120 million euros in the next three years in order to further advance the implementation of the strategy plan Gem. With this plan, Tous wants to continue to grow his growth potential both in the jewelry sector and in the various markets in which the company works, after the rest of the company partner group has been bought back last December and the Tous family holds 100 percent of the shares again.
This article was used with digital tools translated.
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