The final update came two years before the pandemic, when this jewelry and accessories brand Tous finished 2022 with a business volume well above pre-COVID levels and higher than its own geographic footprint suggested. Manresa, in Barcelona, was a recent touchstone, showing €450 million in revenue and a 17 percent rise year over year, with a 14 percent increase versus 2019. A brand renewal launched in September last year contributed roughly €35 million in gains.
With that renewal, the company refreshed its image and connected with a younger audience. The strategy involved updating products, style, store environments, and overall brand direction. According to figures from the end of the year and the start of 2023, the plan appears to be paying off.
According to the CEO, it is still early, but the initial results are encouraging and the turnover shows a cause-and-effect pattern. The leadership notes that Tous draws clients from multiple age groups, yet a common style resonates across generations. The goal has been not to chase a single data point but to align the brand with evolving consumer trends while continuing to honor longtime customers. The outcome is a growing customer base that includes younger shoppers without losing the loyalty of established clients.
round year
As a result, Tous closed a notably solid year on several fronts. Revenue rose, the implemented strategy proved its effectiveness, and the financials reflected the gains. After accounting for discounts, taxes, depreciation, and other expenses, operating profit exceeded €100 million, a level not seen in more than a decade for the company. Net earnings and margins benefited from the same momentum, underscoring a year that stood out in the recent past.
Leadership described the year as a strong signal of recovery from the pandemic and a surge in growth momentum. The narrative centers on healthy expansion, disciplined investment, and a revenue trajectory that responded quickly to focused execution, helping preserve margins amid shifting market conditions.
cost increase
In practice, the management notes, raw material costs around metals like gold and silver were already elevated before the pandemic, so price turbulence did not catch the brand off guard. The disruption from the conflict in Europe and related supply-chain pressures were part of the backdrop that influenced every figure. The approach has been to implement as few changes as possible while aligning new collections with evolving fashion and price realities. Store closures in certain markets and regional conflicts also contributed to a negative impact on the income statement, narrowing some margins by a few million euros.
Still, Tous committed about €30 million to business development, technology, and store renovations last year, with a plan to invest another €30 million in the coming year. Progress includes updating roughly 200 facilities to date, with more than 400 still on the agenda. If plans unfold as anticipated, several dozen stores are expected to open in markets where the brand already operates, including Spain, Mexico, and the United States. The roadmap focuses on sustainable growth across existing footprints while exploring new opportunities. The leadership remains cautious about 2023, acknowledging a likely softer consumer climate yet confident in the momentum built through 2022 and the strategic investments that support it. The sense is that the year ahead will test the durability of the brand’s renewed positioning while continuing to attract new customers without alienating core fans. This balanced outlook shapes the company’s decision-making as it navigates a camera-ready retail landscape where timing and execution matter as much as revenue targets. The strategy emphasizes a clear path toward growth with disciplined cost management and ongoing brand evolution, aiming to sustain the elevated level of activity achieved in recent months. Source: Tous corporate communications and market remarks.