Tous opens a new page in its transformation process, a change of brand and product that has led it to raise its sales and profits to record figures and which still has a way to go, according to the jewelry company. Last year’s turnover increased by 6%, to 477 million euros, although the big increase is in profits, which soared by 40%, to 50 million euros.
The CEO of Tous, Carlos Soler-Duffo, has attributed this growth to brand evolution and digitalization. With practically the same stores (about 630 in 2023) and the same markets, they have obtained better results thanks to greater customer acquisition and efficiencies.
“We are commercially good, financially very solid and emotionally very good,” Soler-Duffo highlighted this Wednesday in the presentation of results. The Manresa-based company thus concludes the first stage of its transformation and launches a new strategic plan to continue growing, both in terms of proposal and financially.
The roadmap plans to consolidate existing markets and gain market share in key countries such as the United States. It will be from 2027 when Tous will make an investment effort to open more stores and enter new markets in which it currently does not have a physical or digital presence (its jewelry is currently sold in 40 countries, including Mexico, Chile, Poland, Portugal or Saudi Arabia, in addition to Spain, its main base of operations). With healthy accounts and no debt, the CEO has assured that they can carry out this plan with their own resources and without leverage.
The evolution of its brand is not the only change that Tous faces. The company is preparing for the future exit of the Swiss shareholder group Partners Group, which took 25% of the family company at the end of 2015. The alliance has already lasted nine years, an unusually long period for this type of operation. Although there is no date set for his departure, Soler-Duffo has confirmed that the company is preparing for when this happens.
“We have advised ourselves on how to address this change and there are multiple options,” he maintained. In any case, the manager has stated that the reasons that led the family to open the capital “are still in force”, and he ruled out that a stock market flotation is being considered. In the hands of the fourth generation of the family, Tous also does not foresee purchases for now.
