Swarovski Releases Sales Data, in Possible Sign of IPO


Swarovski, which is still owned by its founding family, released select financial data for the year 2023, in what some see as a possible prelude to a public offering by the company.

Analyst Paul Zimnisky says the crystal maker’s announcement of sales and profitability figures “could imply that they are gearing up for an IPO.

“Going public is certainly something that they could be considering,” he adds, “especially given the relative strength of the branded fashion jewelry segment at the moment.”

Asked for comment, a Swarovski spokesperson says, “At this time, the brand is not discussing [an] IPO.”

Last year the company’s sales rose 4% to 1.832 billion euros (about $2 billion) over 2022, led by a 10% jump in comps, it said. The fourth quarter of 2023 was particularly strong, with sales increasing 9%.

Retail sales grew 4% year-over-year in 2023; business-to-business crystal sales rose 5%; and jewelry sales were up 6%. Store profitability increased 36%, Swarovski said, with online sales jumping 11%.

Swarovski’s EBIT (earnings before interest and taxes) not counting restructuring costs returned to positive territory for the first time since 2019, the company said, despite “significant adverse foreign exchange impact.”

In a statement, CEO Alexis Nasard said, “Our focus in 2024 will be on the disciplined execution of our strategy.” Nasard is the first person from outside the Swarovski family to head the company.

Top: Alexis Nasard (photo courtesy of Swarovski)

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By: Rob Bates

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