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Swarovski has published its sales report for the past financial year, fuelling speculation the company may be preparing for a stock launch.
The company’s sales improved by 4 per cent to €1.83 billion ($AU3.04 billion) for the year, with a 6 per cent increase in jewellery sales specifically.
Store profitability improved by 36 per cent, while online sales increased by 11 per cent.
CEO Alexis Nasard said these results confirmed the viability of the company’s strategy and that moving forward, Swarovski would continue to emphasise investment in its store network.
“Our focus in 2024 will be on the disciplined execution of our strategy, with a continued focus on superlative creativity in our product collections and communication and further investments in our retail network and major brand moments,” Nasard said.
JCK Online editor Rob Bates suggested that the decision to publish this data may be “a possible prelude to a public offering by the company.”
Industry analyst Paul Zimnisky said the family-owned company may be considering an initial public offering (IPO).
“Going public is certainly something that they could be considering,” he said.
“Especially given the relative strength of the branded fashion jewellery segment at the moment.”
When approached for comment, a Swarovski spokesperson rejected the speculation, stating that “at this time, the brand is not discussing [an] IPO.”
Jeweller’s 2024 State of the Industry Report documented 63 Swarovski stores in Australia, an increase of 31 stores since 2010.
The report found that there are jewellery and watch 239 brand-only stores in Australia, a 185 per cent increase over the past decade.
More reading
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Brand & Deliver – 2020 State of the Jewellery Industry: 10 Year Report on Australia’s branded jewellery and watch stores
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