DiamondBuzz
Swarovski returns to profitability; LGD sales double
Swarovski, the renowned Austrian crystal manufacturer, has successfully returned to profitability after five years of financial struggles. The company reported a 6% revenue growth in 2024 and a remarkable doubling of sales in its lab-grown diamonds segment. This milestone marks a significant turnaround for the family-owned business, indicating the success of its strategic initiatives.
Financial Performance For the fiscal year ending December 31, 2024, Swarovski Crystal Business recorded revenue of EUR 1.9 billion ($2 billion). The company achieved record sales in the United States and Austria, despite operating in a challenging trading environment. While a detailed financial breakdown was not provided, Swarovski emphasized improvements in key financial metrics, including earnings before interest and taxes (EBIT) and cash flow.
Lab-Grown Diamonds Growth Swarovski’s lab-grown diamond division, Swarovski Created Diamonds, saw sales more than double in 2024. The company did not disclose specific figures but highlighted the segment’s rapid expansion as a testament to increasing consumer demand for sustainable and ethically sourced jewelry.
Strategic Vision: LUXignite CEO Alexis Nasard attributed the company’s resurgence to its LUXignite strategy, which aims to modernize the Swarovski brand while preserving its iconic heritage. This approach integrates contemporary cultural trends with Swarovski’s legacy, enhancing its appeal among modern luxury consumers.
Future Outlook Looking ahead to 2025, Swarovski acknowledges potential instability in the global economic environment. However, with the celebration of its 130th anniversary, the company remains committed to executing its strategy with a focus on creativity, strategic investments, and financial discipline. Nasard emphasized that the turnaround remains in full motion, driven by strong brand desirability, innovative product collections, and an immersive retail experience.
Conclusion Swarovski’s return to profitability and the exponential growth of its lab-grown diamond segment highlight the success of its strategic transformation. With a solid foundation in place, the company is poised for sustained growth, reinforcing its position as a leader in the luxury crystal and jewelry market.
DiamondBuzz
Susie Dewey Appointed Chief Marketing Officer At Natural Diamond Council
Seasoned Global Marketer Joins To Elevate The Narrative Of Natural Diamonds and Drive Cultural Relevance Worldwide
The Natural Diamond Council today announces the appointment of Susie Dewey as Chief Marketing Officer (CMO), marking a significant step forward in strengthening its global marketing leadership and cultural influence.
Susie joins the organisation with over 17 years of experience shaping and evolving globally recognised fashion and lifestyle brands. She has held senior leadership roles across internationally renowned companies, including Tapestry, NET-A-PORTER and Michael Kors, following an early career in PR at Topshop and Burberry.
Throughout her career, Susie has led integrated marketing strategies, global partnerships and high-profile brand activations—building a strong track record of driving brand growth, customer acquisition and cultural relevance across international markets.
In her role as CMO, Susie will lead the Natural Diamond Council’s global marketing and communications strategy, further elevating the narrative of natural diamonds and strengthening the organisation’s position at the intersection of culture, creativity and impact.
Susie brings an integrated approach to modern marketing, combining creative and commercial thinking to translate brand vision into insight-led campaigns that deliver measurable business impact. Known for her instinctive understanding of brand building, she has consistently positioned brands at the centre of cultural conversations.
A collaborative and emotionally intelligent leader, Susie is deeply committed to building high-performing teams and fostering environments where talent can thrive.
– Amber Pepper, CEO, National Diamond Council
“Susie’s appointment marks an exciting moment for the Natural Diamond Council. Her ability to connect brand, culture and commercial impact makes her exceptionally well placed to lead our global marketing efforts.”
– Susie Dewey, CMO, National Diamond Council
“I’m incredibly excited to join the Natural Diamond Council at such a pivotal time. The opportunity to shape the global narrative around natural diamonds is one I’m truly passionate about.”
Gargi By PNGS Opens Four New Stores In April, Taking Its Retail Footprint Deeper Into India’s Heartland
FED, Iran, and The Rupee- Three Forces Shaping Bullion’s Next Move AUGMONT BULLION REPORT
5 Reasons Why the ‘Shubh Labh’ Collection by Dassani Brothers Stands Out
FED, Iran, and The Rupee- Three Forces Shaping Bullion’s Next Move AUGMONT BULLION REPORT
Gargi By PNGS Opens Four New Stores In April, Taking Its Retail Footprint Deeper Into India’s Heartland
5 Reasons Why the ‘Shubh Labh’ Collection by Dassani Brothers Stands Out
-
International News15 hours agoFED, Iran, and The Rupee- Three Forces Shaping Bullion’s Next Move AUGMONT BULLION REPORT
-
New Premises9 hours agoGargi By PNGS Opens Four New Stores In April, Taking Its Retail Footprint Deeper Into India’s Heartland
-
National News15 hours ago5 Reasons Why the ‘Shubh Labh’ Collection by Dassani Brothers Stands Out
-
JB Insights16 hours agoTop 10 India’s Jewellery Traditions: Where Craft Becomes Identity
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.