Strong TOUS results in 2019 help cushion the impact of COVID-19

Strong TOUS results in 2019 help cushion the impact of COVID-19

TOUS continues to grow another year in term of both sales and profits. The company closed the 2019 financial year with a profit of €30 million, up 6.8% from last year.

 The company chose to align its financial statements with International Financial Reporting Standards for the first time in 2019. According to this new approach, the brand’s annual turnover was €395 million, a 3.8% year-on-year growth. As for total sales to end consumers, sales amounted to €487 million, up 4.6% compared to 2018.

These results once again underscore Tous’ robust business model and strategy, instrumental for better addressing the crisis triggered by the COVID-19 pandemic. This stability is based on two main cornerstones: internationalization and omnichannel retailing. The company has more than 700 stores in 56 countries, while continuing to promotendigitalization and integration across various channels.

Online sales consolidate its position as the third most relevant market, after Spain and Mexico. The company had a digital presence in 24 markets by the year’s end, a trend that accelerated during the lockdown measures, during which sales through digital platforms more than doubled.

The consistent sustained growth experienced in recent years was disrupted in 2020 by the strong impact that the lockdown and its subsequent consequences had on sales. Most stores were open by July’s end, but there are still countries where stores remain closed.

Faced with the economic effects of the COVID-19 pandemic, TOUS implemented a strategy based on three "P": protect people; protect the business, mainly through cash management; and protect the future, activating employee assistance and social initiatives to mitigate the impact of the crisis.

The company is rolling out a relaunch plan to recover pre-pandemic business levels as soon as possible and to grow in the last quarter of 2020, which has a traditionally high volume of sales that make it the most important quarter for the brand.

One hundred years of jewelry

Despite the circumstances that are shaping the year, TOUS has not given up on celebrating its 100th anniversary and has organized a series of activities in Spain and abroad for the second half of the year to celebrate its 100 years of history with its partners, customers, and friends.