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
Akoirah By Augmont Celebrates The Sibling Bond With Laboratory-Grown Diamond Rakhis
Contemporary, Customisable Rakhis Blend Traditional Symbolism With Modern Fine Jewellery Sensibilities For A Meaningful Raksha Bandhan Gift.
This Raksha Bandhan, Akoirah by Augmont brings a contemporary expression to one of India’s most cherished celebrations with its new collection of laboratory-grown diamond rakhis, combining traditional symbolism with modern jewellery design. Created for the evolving Indian consumer who seeks meaningful and distinctive festive gifting, the collection transforms the traditional rakhi into a keepsake that goes beyond the occasion with customisable designs available in options such as initials, zodiac signs, and other personalised motifs tailored to individual style and preference.
The collection features an assortment of handcrafted designs incorporating meaningful motifs such as the evil eye, Swastika and Ik Onkar, alongside personalised initial-led designs. Each motif brings its own symbolism, representing protection, prosperity, faith and personal connection while laboratory-grown diamonds add a refined, contemporary touch to the traditional expression of siblinghood.
Designed across earthy and versatile colour palettes, the rakhis pair beaded elements in shades of black, brown and blue with diamond-studded motifs. From the understated elegance of a diamond initial rakhi to statement-making designs featuring the evil eye and spiritual symbols, the collection offers options that cater to different personalities and styles.
With this collection, Akoirah by Augmont seeks to elevate festive gifting by bringing fine jewellery sensibilities into a traditionally rooted celebration. The rakhis are designed not merely as festive accessories, but as meaningful pieces that can be cherished beyond Raksha Bandhan, reflecting the brand’s approach to making jewellery more personal, contemporary and relevant to everyday occasions.
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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.