Mar 11, 2020
Tous sales jump 4.6% to record €487 million
Mar 11, 2020
Jewellery brand Tous, which is celebrating its 100th anniversary this year, has posted record annual sales of €487 million as international demand remains strong. This was a 4.6% increase compared to 2018.
During 2019, the brand opened about 50 new stores in countries including Mexico, Russia and Portugal, taking the total number of Tous stores worldwide to 748 in 56 countries and regions.
“A key part of our growth has been adapting to the needs, preferences and priorities of customers in each market where we operate,” said company president Alba Tous in a statement.
The core jewellery segment accounted for nearly 70% of the company’s sales, with the remaining coming from the accessories segment including bags, glasses and scarves.
And e-commerce continues to grow at the Spanish jeweller, now standing as the third largest 'market' after Spain and Mexico.
“Being able to celebrate our anniversary with such a satisfactory sales performance confirms the strength of our business,” said CEO Carlos-Soler-Duffo, who added that the results give the company the necessary stability to “face any kind of extraordinary events”.
Tous recently won a lawsuit filed by the Association of Consumers and Users of Jewellery (Consujoya), a Spanish consumer rights group which accused the brand of misleading advertising claims. According to Consujoya, Tous jewellery contained ‘non-metallic materials’, and it claimed that Tous was selling items erroneously marketed as gold or silver products. But a court in Spain dismissed the case after ruling that there was no issue from a legal perspective.
Tous, founded in 1920 and currently chaired by Alba Tous, has more than 4,000 employees and a head office in Manresa, Barcelona. The company started when Salvador Tous Blavi established it as a small watch repair business.
Tous, best known for its bear cub emblem, will celebrate its anniversary this year with a series of commemorative events in Spain and abroad.
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