Swarovski Reports Strong 2024 Results

Swarovski Crystal Business announced impressive results for the fiscal year ending 31 December, 2024, marking a significant milestone in the company's ongoing transformation.

The brand reported a 6% increase in organic growth, reaching €1.9 billion in revenue. This success was driven by a robust 8% like-for-like growth, despite challenging market conditions, and an outstanding fourth quarter with an 11% organic growth rate.

The company's EBITDA saw double-digit growth, and for the first time in five years, Swarovski posted a fully positive operating profit, reinforcing the effectiveness of its LUXignite strategy.

Chie executive Alexis Nasard shared: "These achievements in a difficult and volatile environment is a tribute to the dedication of Swarovski's employees and partners around the world, and to the support of our board and shareholders."

Swarovski's jewellery division showed remarkable growth, increasing by 9% organically, outpacing the general market. The company also saw broad-based growth across all regions, with Europe leading the way with an 11% increase in like-for-like sales, followed by the Americas with a 10% growth. Asia saw a 3% growth despite a slowdown in China. Swarovski also gained market share in eight out of its top ten markets, and saw a significant surge in sales of Swarovski Created Diamonds, which more than doubled compared to the previous year.

In 2024, the brand's involvement in events such as the Vienna Opera Ball and the Met Gala showcased its rich Austrian heritage. Notable product launches included the Eternity Collection made with Swarovski Created Diamonds, and a collaboration with Ariana Grande on a special capsule collection that encapsulated the brand's Pop Luxury ethos.

Looking ahead to 2025, Swarovski will celebrate its 130th anniversary with the theme "130 Years of Joy," a milestone marking its evolution and future aspirations.

Nasard continued: "In 2025, instability in our operating environment will likely persist, but as we celebrate our 130th anniversary our focus will remain on the disciplined execution of our strategy, with continued focus on superlative creativity, strategic investments, and financial rigor."

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