The Greek subsidiary of the Swarovski Group has returned to profitability, with its sales touching 13 million euros, mainly through the retail channel and specifically its network of stores.
A development that on the one hand can be linked to the growth dynamics of the Greek economy and the tourist current and on the other hand to the new strategy that the Group is implementing after the historic decision to take over the management of a manager outside the Swarovski family, Mr. Alexis Nassard.
According to the financial statements posted to the GEMI, Svarovski Hellas’ turnover in 2023 increased by 8.06%, reaching approximately EUR 12.96 million from EUR 11.99 million in 2022. The difference was made by the company’s five company-owned stores as their sales increased by 29.4% compared to 2022. Wholesale sales to partners, still the largest channel for the subsidiary, almost twice as large as retail, recorded a slight decrease of 1.21%.
