Swarovski Announces Significant Growth

Swarovski, whose clients include brands such as Lanvin, Chanel and Balenciaga, has been able to capitalize on jewelry innovations and collections made from rhinestones upcycled from glass debris. These choices paid off in 2024, as sales rose by 6% to 1.9 billion euros, representing an extremely positive result considering the global economic instability.

What strategy did the company, founded in Austria in 1895 by Daniel Swarovski, use to achieve this performance?

In recent years, the group has focused on a growing market, namely laboratory-grown diamonds. In this regard, sales of “Swarovski Created Diamonds” have more than doubled compared to 2023. The success of the Eternity collection made with these crystals is a perfect example. The Austrian group is keen to develop this branch further, given that the global market for laboratory-grown diamonds is now worth 89 billion dollars.

In another innovation, Swarovski has launched its “LUXignite” strategy, a mix of promoting the brand's history and seeking a contemporary cultural image. The label's boss, Alexis Nasard, expressed his satisfaction in a press release: “These results confirm the strength of the LUXignite strategy and Swarovski's capacity for excellence.”

Celebrating its 130th anniversary this year, the brand confirms its desire to continue its strategic investments and creative efforts in order to make these results last. In line with this direction, the brand is increasingly focusing on a young clientele, notably choosing the singer Ariana Grande as the face of its new capsule collection, inspired by the love of music. Since 2018, it has also been developing methods of diamond upcycling with the Swarovski ReCreated range, made entirely from glass debris and used by brands such as Guerlain to decorate its perfume bottles.

Swarovski's financial report highlights the clear growth of the European market, a geographical area in which the group recorded an 11% increase in sales compared to the previous financial year. The opening of flagship stores - like the one in Milan inaugurated last year - aims to build loyalty and increase the European customer base by using impactful creative processes. In December 2023, the brand opened its largest store on New York's 5th Avenue, with a spectacular pop-art installation.