The jewelry firm Tous has broken its sales record this last year, with 450 million euros, 14% more than before the pandemic and above the objectives that it had set at the start of 2022. “It has been a great year”, stated Carlos Soler-Duffo, CEO of the Manresa-based company. The manager attributes this strong boost in turnover to the evolution of the brand, both in terms of image and product range, which has enabled it to overcome a challenging year. “The renewal has been very well received”, highlighted the CEO.
Neither geopolitical turbulence nor economic uncertainty have had an impact on its sales, Soler-Duffo stressed this Wednesday in the presentation of results. The second semester had a particularly good performance, coinciding with the launch of the new image, which includes a reinterpretation of its iconic teddy bear and a store concept that they are gradually applying to all their establishments -it has already reached 200 out of a total of 643 in its 46 markets-. This process, together with the development of its digital environment (21% of sales come from the online channel), has concentrated a disbursement of 30 million euros, an investment figure similar to that planned for this 2023. The net profit has reached 36 million euros, 60% more than in the previous year (101 million gross profit). Tous is now analyzing the dividend to be distributed.
The company chaired by Alba Tous has also faced the commercial closure of Russia, which has generated a negative impact on its accounts of almost seven million euros. The 56 stores that he maintained in the country before the outbreak of the war remained closed for a long period during which they had to continue paying salaries and rents. As a solution, Tous decided to transfer the business to the franchisees, with whom it has abolished the direct commercial relationship.
Spain, Mexico, the United States, Poland and Portugal remain the main markets, with a strong evolution of sales. In terms of income, the jewelry line represents 70% of the total, while accessories contribute 20% and the sale of watches, the rest. The firm owned by the Tous family (the Partners Group fund has held 25% of the company for seven years) thus considers the impact of the pandemic to have been overcome and expects to exceed record results in 2023. “We will consider the years that we do not grow unsatisfactory”, commented Soler-Duffo. The evolution of sales this first quarter and the acquisition of new customers that the renewal of the brand has meant points, he added, in this direction.
