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Sales for jewellery brand Tous grow 10.6% in 2017, up to €446 million
Spanish jewellery and accessories brand Tous is growing in double digits. The group has just published its annual results, and in 2017 it recorded sales for €446 million, equivalent to a 10.6% growth over the previous financial year. Tous's core business since its inception has been jewellery, and 70% of sales last year were generated by the group's jewellery range.
Last year's increase in revenue was chiefly driven by Tous's performance on markets outside Spain. The group's domestic sales grew by 4.6% on an annual basis, while its international business posted a whopping 19.2% increase.
By country, the markets with the highest growth rates were Portugal and Poland, where revenue rose by 35%. Russia ranked third for growth, rising 33%, followed by Saudi Arabia, with a sales increase of 24%, and the USA, where revenue was up 18% over the previous year.
As explained by Tous, in some of these markets its strategy is based on attracting luxury tourism and travel retail sales, both strategic channels for the brand. In addition, Tous has strengthened its subsidiaries' teams in key markets such as China, the USA, Russia and Mexico.
As of 31st December 2017, the group was operating a total of 622 stores in 53 countries. In fact, in the course of 2017, Tous turbo-charged its retail expansion, opening more than one hundred new stores, double the number of 2016.
On its domestic market, last year Tous opened 17 new shops, compared to 84 openings outside Spain. Most of the group's stores, 389 of them, are actually located outside Spain, while the remaining 233 are Spain-based.
Tous's international business is extremely widespread. In Asia, the brand now runs 21 stores in China, in Mexico it already operates 74 and expects to add another 14 in 2018, and in the last twelve months it inaugurated seven stores in the Czech Republic.
Looking at the business by channel, online sales accounted for 6% of total revenue in 2017, and grew by 36% over the previous year. Tous considers the digital transformation of its business a key strategic area, and is keen to push it even further. It already has an online presence in 14 markets.
The group was founded in 1920 in Manresa, near Barcelona, where its headquarters are still located, and has more than 3,500 employees. Tous is led by President Alba Tous, and among its shareholders is Swiss investment fund Partners Group AG, owner of a 25% stake.
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