Crystal group Swarovski is optimistic about a turnaround after a period of financial setbacks. The company has already observed a notable ten percent increase in sales, reaching approximately 1.9 billion euros in 2022, under the leadership of CEO Alexis Nasard. Nasard, who is the first non-family member to head the 127-year-old company, firmly believes that Swarovski will once again start generating profits by 2023. Interestingly, this encouraging announcement comes amidst a family dispute regarding the future direction of the company.

Nasard’s unwavering confidence in the future of Swarovski can be attributed to the company’s thriving performance across various markets. With the exception of China, Swarovski is experiencing substantial growth in almost every market it operates in. Notably, the United States emerges as the most significant region for Swarovski, contributing approximately 20% of their total sales. In order to capitalize on this success, the company has strategized plans to open more stores across the US. Following closely behind, China holds great potential, while Germany remains Swarovski’s primary European market. Additionally, Swarovski’s domestic market in Austria has also witnessed significant growth in 2022.

It is important to note that prior to the pandemic, Swarovski had generated impressive sales of 2.7 billion euros in 2019. Nasard has emphasized that there are no intentions to downsize the current workforce, which comprises around 18,500 employees. This commitment to maintaining staff levels showcases the company’s commitment to its employees during these challenging times.

Two linked sources that provide more insight into Swarovski’s future plans and developments:

1. Swarovski Official Website: https://www.swarovski.com
2. Forbes article on Swarovski’s business strategies: https://www.forbes.com/swarovski-business-strategies