Tous, the renowned Spanish jewelry brand, achieved record-breaking revenue in 2024, reporting a 9.4% increase in sales over the past fiscal year, totaling $570 million. Despite this impressive growth, the company experienced a decline in net profit, which dropped to $49 million, down from $54 million in 2023.
The decline in profit was attributed to the “dilutive effect” of exchange rate fluctuations throughout the year. However, Tous clarified that excluding the currency impact, net profit would have risen by 5% compared to the previous year.
In terms of overall performance, Tous achieved an EBITDA of $124 million, reflecting a 6.4% year-over-year increase. The company also reported progress in its long-term strategic goals with the successful launch of its GEM plan, aimed at driving growth, elevation, and mindset.
Tous’s CEO, Carlos Soler-Duffo, expressed confidence in the company’s direction: “In 2024, we successfully met the objectives set for the first year of the GEM plan. Tous is now a stronger brand with a solid global presence and a unique jewelry offering. These key strengths have translated into positive results, and we will continue leveraging them to drive sustainable growth.”
A major milestone in the year was the founding family regaining full control of the company, after purchasing the stake held by Partners Group since 2015, marking a significant move for the brand’s future.
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