The Austrian crystal producer Swarovski made strong progress in the 2022 financial year. On Friday, the group announced that it was able to achieve a sales increase of ten percent to 1.83 billion euros in the crystal division. Adjusted for developments in China, revenues even rose by 18 percent. The engine of growth was accordingly the jewelry product category, whose sales increased by 15 percent.
Swarovski also made progress in terms of earnings: after “three years with significant losses”, the deficit in 2022 was significantly reduced and an “almost positive result” was achieved, according to a statement.
CEO Alexis Nasard, who has led the company since last July, was pleased with the latest results: “These encouraging results confirm that our strategic direction is correct and that our iconic brand and product have exceptional potential,” he said in a statement .
The current development also made the CEO confident: “We have made a promising start to 2023 in all markets – including China – and will concentrate on the disciplined implementation of our new LUXignite strategy and our business plan,” says Nasard. The focus is “on product innovations and further investments in our retail network and our brand communication”.