Pearls in Spain are closely tied to a Majorcan company with a history spanning 121 years. The business has weathered celebrated highs and dramatic downturns that nearly led to its collapse. Today, Majorica is repositioning itself economically after the 2020 crisis and is pursuing new growth by attracting a younger, more informed audience, expanding nationally and internationally, and blending heritage with forward momentum.
During its liquidity crisis, the coronavirus pandemic struck hard. Didier Grupposo, born in Paris in 1969, has led the company as managing director since 2018, surviving the latest ownership change. He recalls a time when bankruptcy seemed inevitable in the summer of 2020. Faces around him showed disbelief. Yet he vowed to turn that moment into a turning point rather than an end, insisting that Majorica would endure every storm. His resolve was clear: the firm would fight to stay alive and prosper again.
Majorica changed hands in July 2021 after a period of bankruptcy and social and financial challenges. The business, once owned by French Majolaperla SLU, has reemerged in a refreshed industry narrative. The pearl producer moved its headquarters from Barcelona to Manacor, the eastern Mallorcan town where its emblematic factory operates and where strategic decisions are now made.
Learning from the past, the company plans to deploy multiple departments to revive long-idle projects. Expansion targets include Asia and the United States, with Majorica maintaining a presence in New York, including a Fifth Avenue office and store. Grupposo notes that not all initiatives will succeed, but a Singapore trade show is planned to unlock the Asian market, while a six-month pop-up is planned for Miami during the summer season to boost U.S. visibility.
The growth strategy also centers on expanding pearl jewelry production and expanding showroom presence. The goal is to double the brand’s visibility and attract new generations. He indicates that if the company invoiced 20 million euros annually over the past two decades, it could reach 50 million euros per year within two to three years, while doubling production shifts to meet demand. Current working hours run from seven in the morning to three in the afternoon, but doubling sales will require intensified effort and factory investment to improve efficiency and capacity.
Grupposo acknowledges that up to 20 million euros annually come predominantly from tourism and coastal markets, with national customers playing a smaller role. Spain’s population of 47 million presents a large potential market, and even men are increasingly wearing pearls, widening the customer base and signaling greater growth opportunities.
Majolaperla SLU, owned by French investor Gregorie-Agustín Bontoux Halley, emphasizes that all Majorica pearls are produced in Manacor, supported by a workforce of 110, with a total staff of 247 across manufacturing and sales. The organizational structure includes a general manager and teams covering management, finance, marketing and social media, human resources, product development, and information technology.
In terms of output, Majorica sells four million pearls annually, with some pieces requiring more than one pearl. About 700,000 jewelry pieces are produced each year, and the company notes that a Majorica piece travels the world every minute in sales. The brand operates five stores in Mallorca and maintains a national footprint with around 20 direct sales points and nearly 500 indirect outlets. Internationally, Majorica is present in 70 countries with more than 1,000 points of sale.
Sustainable and affordable luxury
A core differentiator for the new Majorica is a commitment to sustainability and accessible luxury. The company points to its natural materials and lack of animal treatment in the production process, positioning its jewelry as a value proposition that is not priced as low-cost fashion. Parts of Majorica jewelry typically range from 120 to 150 euros, while luxury segments demonstrate that customers can find both high-end and mid-range pieces in the same showcase. The brand emphasizes the idea that luxury can coexist with sensible pricing, a message underscored by a belief that a range of price points can coexist without compromising quality.
Majorica also plans to revive its visual heritage with a large catalog of historical photos, viewing them as a legacy connecting past to present. A traveling exhibit is contemplated to tell the company’s story to a broader audience, with even talk of a Netflix-style documentary capturing the early years, recent decades, and ongoing evolution. The management believes such storytelling could be compelling for a global audience.
The general manager concludes with a clear outlook: the company is financially healthy this year and the next, with investments planned for the long term. Reinvestment is viewed as a key driver of sustainable growth, ensuring the business strengthens its foundation rather than chasing short-term gains.
Women’s history
East of Mallorca became a pivotal hub for distinctive manufacturing in 1902, featuring a blend of factory and home-based production led by a strong female labor force. A unique machine park adapted to evolving production lines and a long-standing export orientation helped shape Majorica’s early identity.
Majorica traces its origins to 1890, when Karl and Eduard Heusch founded the firm in Paris as Societé des Perles des Indes E. Heush & Co. It later became Hugo Heusch & Cia and then Industria Española de Perlas Imitación, SA, evolving into Majorica Heusch and finally Majorica. The 1902 factory opening created major opportunities for women and girls in the region, who began working in the pearl mills and helped revive the local economy after earlier downturns.
Over time, factory workers benefited from social programs and supported most of the town’s cultural and recreational activities, including health services, weighbridges, and child care facilities. This institutional support helped alleviate social strain and foster community cohesion during economic shifts.
Two severe crises
Just over two decades ago, Majorca faced a crisis akin to the recent pandemic period. By late 2001, rumors of an ownership change triggered a wave of protests demanding solutions for more than 500 jobs across Majorica’s national footprint. Thousands gathered outside the old factory, which was eventually demolished in 2006 after a new facility was built on the industrial estate. The protests reflected concerns about globalization and profitability under new ownership from French investor Alpha Investment and Banco Santander’s Emilio Botín, with workers arguing that the changes threatened the firm’s viability.
After years of tension, global trade disruptions from the COVID-19 era led to a temporary halt in pearl production. Majorica accepted government-proposed postponements and filed for bankruptcy during a period of market uncertainty. Following months of rumors, Majolaperla SLU remained involved with Majorca’s pearl factory, and a restructuring raised €12 million, easing the immediate crisis but leaving the business scaled back from prior levels.
Didier Grupposo
Didier Grupposo, born in Paris in 1969, has led Majorica since 2018, following a promotion recognizing his leadership in international markets and marketing for a century-old company. With the May 2021 ownership change, he entered a six-month probationary phase, describing it as a period of renewed confidence in the plans to restart the business.