TOUS achieves a record turnover of 477 million in 2023 and presents its new strategic plan: GEM

TOUS achieves a record turnover of 477 million in 2023 and presents its new strategic plan: GEM

During the year, net profits were up 40%, reaching 50 million euros

The TOUS digital business continues to gain momentum and now accounts for 23% of turnover

The company successfully concludes its TOUS NEXT transformation project, launched in 2020, and presents its new strategic plan, GEM: Growth, Elevation, Mindset

TOUS, the jewelry firm that brings out the shine in creativity and self-expression, once again files a record turnover for the year, with sales totaling 477 million, 6% up on 2022, and net profits reaching 50 million euros, 40% up on the previous year. Mention must also be made of the growth in operating profit (EBITDA), which reached 116 million, 15% up on last year. The company's growth this year, in which it has confirmed its already strong financial position, is mainly due to successful brand development and digitalization. In this context, the company has continued its hard work on promoting its global brand and strategic investments. With a focus on strengthening the newly evolving brand and its product, the various initiatives have been very well received in the company's markets, attracting new audiences and highlighting the increased connection with generations X and Z. 2023 was also a year of sound investments, with 38 million, 25% up on last year. This significant boost to investment has strengthened the brand's omni-channel capability both in its network of over 600 stores and in its digital platform and company-wide systems. As a result, this year has seen the company consolidate its digital business, recording a growth of 17% compared to the previous year, and accounting for 23% of total turnover. These figures illustrate the success of the TOUS NEXT period of transformation, which was launched in 2020. During this period, the company's total turnover has grown by 21%, profits are up 72% and the digital channel share has risen from 9 to 23% of the business. In turn, 2023 has been a special year for sustainability, with a policy for the future drawn up on four pillars: People, Planet, Crafts and Good Governance, as a cross-functional line of approach; aligned with the Sustainable Development Goals of the 2030 Agenda of the United Nations (SDGs: 4, 8, 10, 12, 13, 16 and 17). The firm has also continued initiatives such as the TOUS School socio-educational project, a unique program in the sector with a clear mission: to pass on the craft knowhow of jewelry restoration to future generations. In this area, the company cooperates with international jewelry schools to help train future jewelers through a training and internship program involving TOUS master craftsmen and women. In 2023, the program celebrated its fifth anniversary, boasting over 20,000 training hours, and agreements signed with 10 schools in Spain, Mexico, Poland and Portugal since it first began. Also in 2023, the firm has taken its project to Puerto Rico, creating a unique line of jewelry studies in the country. Along with the high commitment assumed by TOUS in socio-education, this year has also marked the birth of the TOUS Future Talent initiative. Its mission is to promote creativity in design, collaborating with higher education institutions dedicated to training professionals in the field of creativity. With international vision, the firm has selected Mexico to launch the first edition of the project in alliance with one of the market's reference universities: CENTRO. The company has also teamed up with the Marangoni Institute in Miami, where its Vice Chair and Reach and Relevance Officer, Rosa Tous, has joined the Advisory Board. Again in 2023, the company is celebrating the launch of its exciting TOUS Afterlife project, its very first circular design project. This collection has been designed and made in full accordance with ESG (Environmental, Social & Governance) criteria. It emerges as a unique fusion of fashion and social and environmental responsibility, giving a second life to pieces used in marketing campaigns by transforming them into unique, limited-edition bags. Each bag is made in local workshops managed by Fundació Ared, an organization providing support for people at risk of social exclusion. The new strategic plan: GEM The good health of both the brand and the company puts TOUS in a position to look to the future and promote its new strategic plan on the basis of three pillars: Growth, Elevation, Mindset, whose initials form the acronym GEM. The first pillar, Growth, presents a roadmap for continuing the current trend of strong and sustainable growth. Here, the company is focusing on its key international markets, where it will continue to consolidate its position as leader with a strategic vision focused on attracting new audiences, investing in local talent and increasing brand relevance. In a second phase, the company will explore new geographical areas. The promotion of digital and technological innovation will also be essential in 'Growth', which will continue to benefit from healthy investment and a firm commitment to specialized talent. The firm will work in two areas: customer experience through omni-channeling and personalization; and organizational efficiency by improving production processes and optimizing its logistics chain. With this in mind, the company is set to speed up its contribution with additional strategic elements: Artificial Intelligence (AI), advanced data analytics and immersive technologies. Accordingly, special mention must be made of the focus on AI. At the present time, the organization’s capabilities already include the development of language and image-processing algorithms, which are strategic for recommending products and forecasting trends. Generative AI is also emerging as a key element in the firm's digital strategy, and the scalability of solutions for its industrialization is being assessed. The second pillar of the GEM Plan is Elevation. Here, the company increases its commitment to elevating both brand and product through differentiation, quality and innovation. Accordingly, with its sights set on excellence, TOUS is to show its commitment to constant innovation at both brand and product level in different formats: collaborations with artists, such as the recent alliance with Ludovic de Saint Sernin in his first fashion show at New York Fashion Week; the reinvention of production processes through the use of new materials for both accessories and jewelry; the launch of products focused on continuing to reinvent the sector, such as TOUS CLAWS, the firm's first collection inspired by nail art and co-created on TikTok; and TOUS Afterlife, the company's first circular design project. An excellent example of the approach taken in 'Elevation' is the brand's new flagship: TOUS MANIFESTO. This new product emblem features innovative brand codes and seeks to create an emotional connection with new audiences. Indeed, it has become a top seller in the very year of its launch. This innovative product approach highlights the strong focus on differentiation and is driven by an intensive branding exercise on a global scale. Special mention must be made of its launch with immersive technology, making it the first collection of the firm to be presented in a digital showroom built with augmented reality. Finally, Mindset, the third pillar, reflects the company's corporate culture and its focus on people and sustainability. The human team is the jewelry firm's most strategic asset. TOUS is committed to promoting a culture that creates an inspiring environment, making room for innovation, growth and constant development, concepts that have been in the company's DNA since it began over 100 years ago. In this direction, as part of the GEM plan, TOUS will continue its efforts to have the best teams and attract specialized profiles in the fields of creativity, technology and digitalization. At the same time, it will focus on the integral wellbeing of its people through programs that focus on wellness, training and inspiration. Mindset also reflects a strong commitment to sustainability. So, in keeping with its corporate motto, We Craft a World of Joy, the new sustainability policy—approved in 2023—will focus its efforts this year on three major areas of action that will have an impact across the entire organization: working on how to develop a more responsible supply chain by increasing transparency; strengthening the commitment to new collections with ESG criteria; and learning how to increase proximity in production. Impetus from the Board of Directors The drive behind the new plan for growth comes from the Board of Directors, in which TOUS has recently incorporated Martin Brok (former Global Chairman and CEO of Sephora), Patricia Sancho (former CEO of Temperley London), Pierre Denis (former CEO of Jimmy Choo) and Steve Davis (former President of Fanatics). The four new board members bring a transformative vision to boost innovation and business growth.