Saturday , May 15 2021

The sale of Swarovski stagnated in 2018 to 3.5 billion euros

The turnover of the Tyrolean company Swarovski crystals stagnated to 3.5 billion euros in 2018, according to Tiroler Tageszeitung ("TT"). Although operations increased by four percent, however, currency effects on the US dollar and the Chinese yuan had a negative impact, the glass jewelry maker claims.

In the current year, it should turn to the tide, so the spokeswoman for Markus Langes-Swarovski opposite "TT", who expects to increase sales by seven percent this year. The cost optimization program introduced in 2017 should give the first effect this year and will help improve the Group's earnings.

34,500 employees around the world

In the largest division so far, the Crystal Division, sales in the previous year remained at 2.7 billion euros, while the Tyrolit and optical department of the Bristle Product Manufacturer recorded a slight growth. After several cuts, Swarovski has increased the number of employees in production for the first time last year. With about 6,600 employees, Swarovski is the largest private employer in Tyrol and employs 34,500 people around the world.

Swarovski Group is a family business for the fifth generation. The number of family members has risen to more than 200, of which 80 as shareholders also have the right to vote. They want to further reform the decision-making structures, Swarovski-Langes said as compared to "TT".

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