Tous returns to pre-pandemic figures after 37% growth in 2021
Tous, the century-old Spanish jewelry company, closed 2021 in the black with a 37% year-on-year increase in sales. The company ended the year with a turnover of €384 million, which contrasts significantly with the figures for 2020 of around €280 million.
"These figures have allowed the company to recover its pre-pandemic levels a year ahead of schedule," said Tous, while clarifying that sales in 2021 were only 2.8% lower than before the health crisis. Nevertheless, this recovery has been progressive. The last seven months of the year were the busiest, with its second half even surpassing the performance of 2019, "a trend that is maintained in 2022," they detailed.
2021 was still marked by the impact of the Covid-19 health crisis and the reduction of what the company defines as its "commercial reach" put in place due to strategic reasons. If it weren’t for today’s Covid context in terms of stores, markets and the capacity for opening establishments, these years results would’ve been able to consolidate sales above 12% compared to those form 2019, according to Tous.
"Even more important than revenue growth in 2021 is the strategic reviews and transformation process we have undertaken over the past two years. As a result of this transformation, we have returned to pre-pandemic sales levels a year ahead of schedule and that will have a positive impact on results for years to come," stated Carlos Soler Duffo, CEO of Tous.
The company led by the Tous family along with the contribution of the Partners group, which owns 22.5% of the company’s capital, closed the year with a presence in 46 countries and 703 stores (in 2019 it operated in 56 markets with 748 stores). Among its many milestones is the consolidation of its online channel, with online sales already accounting for 20% of the firm’s total turnover. The digital business continues to grow at a rate of 30% per year and operates in 26 markets.
Tous Next: the company's tool for growth
Tous Next is the company’s latest strategic project, with its main goals being to promote the competitiveness and future growth of the organization, as mentioned by the company’s CEO.
The implementation of this strategy is accompanied with the addition of Alu Rodríguez as chief transformation officer (CTO) and chief information officer (CIO), who joined the management team last summer and is driving projects such as the personalization of the customer experience, the digitization of stores and the automation of processes.
“The second century of our company’s existence has begun with a truly exceptional year, laying the groundwork for solid long-term growth with a profound transformation that cuts across all areas of the company,” said the group’s president, Alba Tous.
Tous' desire to transform also extends to the remodeling of its headquarters. This project has also “reformulated its logistics management,” equipping the establishment with a unified stock management. In addition, the complex is now capable of storing and dispatching more than 7 million products a year.
Another bold venture that Tous undertook in 2021 was the launch of its new brand, Suot Studio: an experimental jewelry project led by Marta Tous. The commercial proposal aims to blend the Tous house’s artisan experience and tradition with creativity, innovation, new media formats and new targets.
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