Tous, the renowned Spanish jewelry company with a history dating back over a century, has experienced remarkable growth in 2021. Despite the challenges posed by the Covid-19 pandemic, the company has achieved a remarkable 37% year-on-year increase in sales, surpassing its own expectations and returning to pre-pandemic levels. Tous ended the year with a turnover of €384 million, a significant jump from the €280 million in sales recorded in 2020.
This impressive recovery for Tous has been gradual, with the busiest period occurring in the last seven months of the year. Surprisingly, the second half of 2021 even outperformed the company’s performance in 2019, signaling a strong upward trend that has continued into 2022. This positive trajectory is expected to have a favorable impact on the company’s future results.
Despite strategic decisions to reduce its “commercial reach,” Tous has managed to achieve remarkable sales figures. The company firmly believes that if it were not for the current Covid context, sales in 2021 could have exceeded those of 2019 by more than 12%.
Carlos Soler Duffo, the CEO of Tous, highlighted the significance of the company’s strategic reviews and transformation process over the past two years. The company’s transformation efforts have not only allowed it to recover its pre-pandemic sales levels ahead of schedule but are also expected to have a long-lasting impact on its future results.
With operations spanning 46 countries and 703 stores worldwide, Tous has also made significant strides in its online channel. Online sales now contribute to 20% of its total turnover, and the digital business is growing steadily at a rate of 30% per year across 26 markets.
One of Tous’ latest strategic projects is Tous Next, led by Alu Rodríguez, the Chief Transformation Officer and Chief Information Officer. Tous Next aims to enhance competitiveness and foster future growth through initiatives focused on personalized customer experiences, digitized stores, and automated processes.
Furthermore, Tous is investing in the renovation of its headquarters and has implemented a unified stock management system capable of storing and dispatching over 7 million products annually. The company has also launched a new brand, Suot Studio, which serves as an experimental jewelry project blending Tous’ rich artisan experience and tradition with creativity, innovation, and new media formats.
Overall, Tous’ outstanding performance in 2021 paints a promising future for the company. With its strategic initiatives centered around digital transformation, commitment to innovation, and emphasis on personalized customer experiences, Tous is well-positioned for continued growth in the competitive jewelry industry.
For more information about Tous’ impressive growth and strategic initiatives, check out the following links:
