Tous, the famous Spanish jewelry brand, reported record-breaking revenue in 2024. According to a statement released on Tuesday, the company saw its sales grow by 9.4% over the last fiscal year, reaching $570 million. However, net profit declined to $49 million from $54 million in 2023. Tous attributed the drop to the “dilutive effect” of exchange rate fluctuations in 2024. “Excluding currency impact, net profit would have increased by 5% compared to the previous year,” the company stated.
Carlos Soler Duffo, CEO of Tous – Tous
During the past fiscal year, the founding family regained full control of the company by purchasing the stake held by Partners Group in 2015. Tous achieved an EBITDA of $124 million in the same period, reflecting a 6.4% increase year-over-year. As highlighted in its financial report, 2024 also marked the launch of the company’s strategic GEM plan, an initiative focused on growth, elevation, and mindset.
“In 2024, we successfully met the objectives set for the first year of the GEM plan. Tous is now a stronger brand with a solid global presence and a unique jewelry offering. These key strengths have translated into positive results, and we will continue leveraging them to drive sustainable growth,” said Carlos Soler-Duffo, CEO.
Organic growth and a 1 million investment over three years
Tous announced plans to invest $131 million over the next three years to further its strategic goals. This comes after the company allocated $34 million in 2024 to its stores, infrastructure, and IT systems. As part of this investment, Tous renovated 50 stores while maintaining a steady retail footprint, operating across 40 markets with more than 600 locations. Store expansion was driven by organic growth, supported by strong sales from new collections.
While the company did not significantly expand its physical store network, Tous broadened its global reach through e-commerce. In 2024, it launched a global website, allowing it to sell worldwide. Online sales grew by 10% year-over-year, contributing 23.5% of total revenue.
Tous reported strong growth across all markets, including its most established regions, Spain and Mexico. Looking ahead, the company aims to expand into new territories to accelerate its global presence.
With its headquarters in Manresa, Tous sees long-term growth potential, particularly in its established markets. The company credits this to ongoing brand renewal efforts and the expansion of its latest product lines—Tous Atelier, a fine jewelry concept, and Suot Studio, which focuses on experimental designs.
“The branded jewelry sector still represents a relatively small portion of the overall market, especially compared to other luxury personal goods categories. This presents a strong opportunity for growth in a segment where Tous continues to lead and innovate,” the company concluded.
In a major strategic change Dsquared2 has ended its long-time licensing agreement with Staff International, the key operating company of Italian fashion billionaire Renzo Rosso.
Dean & Dan Caten, by Giampaolo Sgura
“Dsquared2 Group announces the immediate termination of its licensing agreement with Staff International S.p.A. Consequently, the Group will assume direct control over the production and distribution of its Ready-to-Wear collections,” the Milan-based house said in a terse release Saturday.
“This transition takes effect immediately and will commence with the upcoming Pre-Collection Spring/Summer 2026 sales campaign,” added Dsquared2, which was founded by twin brothers Dean and Dan Caten over three decades ago.
Staff International is the key production wing of Only The Brave, the holding company of Rosso, which also owns Diesel, Marni, Maison Margiela and Jil Sander, as well as the manufauring license of Viktor&Rolf.
“Dsquared2 Group expresses its sincere gratitude to all those who have contributed to this collaboration and looks forward to fostering continued partnerships in the future,” the release added.
The agreement with Staff International dates back to 2002, and helped fuel the spectacular development of Dsquared2, the last runway brand in Milan to have grown into a major global fashion brand.
Born in Willowdale, Ontario, Dean and Dan Caten (Catenacci, originally) began their career path in fashion by moving to New York in 1983 to attend Parson’s School of Design. In 1991 they arrived in Italy where in 1994, after numerous collaborations with major fashion houses, they first staged their debut runway collection. It marked the first in a long line of runway extravaganzas that would capture the attention of journalists and buyers for their unique brand of fashion, music and theatre.
The Catens went on to build a multi-million dollar business. And to dress everyone from Madonna in her iconic western video clip, “Don’t Tell Me”, to Beyoncé for her Super Bowl performance. The duo also has an impressive range, all the way to dressing the four-time English Premiership Champions, Manchester City. And a great HQ, a former electric energy headquarters converted into office, show-space, inn, gym and rooftop restaurant with swimming pool. They have become one of the city’s great fashion institutions without every losing the DNA of the Wild North. And famed for their ovations, where they take their bow in matching outfits – whether disco dragoons, Klondike trappers or matinee idols.
Leave it to the Canadian duo to stage an epic 30th anniversary show in Milan this past season, the cast marching out of a wrecked brick garage, or arriving in a series of mighty wheels. From armored personnel carriers and Ford Mustang convertibles to an all-silver DeLorean and a vintage Rolls Royce – all took turns arriving in the huge warehouse done up like a nightclub.
All of the Caten’s great archetypes got an outing. Mad saucy trapper girls in giant puffers and lots of legs; a trio of rockers with Kiss goth makeup but in three-piece suits; Klondike gold diggers off to an all-night rave; sexy vampy rock goddesses with bumster leather pants and fur coats with trains; and a beautiful black rodeo gal with mini cocktail made of bands of Western belts. Leading to the arrival with sirens of NYC police car, from which a dominatrix leather police captain played by Brigitte Nielsen escorted two white collar criminals. You guessed it – Dean and Dan.
And amid huge roars, JT and Doechii took the floor in a call and response duet surrounded by the entire cast.
Renzo Rosso’s fashion holding company OTB suffered a setback in 2024, seeing revenues fall 4.4 percent at constant exchange rates to 1.8 billion euros, recording EBITDA of 276 million euros and EBIT of 44 million euros. Retail (+7.4 percent), Japan (+16.3 percent) and North America (+13.3 percent) held up. Among the brands in the portfolio, Maison Margiela (+4.6 percent) and Diesel (+3.2 percent) performed positively.
In the past fiscal year, the Vicenza-based company sustained investments of 77 million euros, with a focus on the expansion of the retail network and major innovation projects.
The departure of DSqyared2 will be seen as a setback for Rosso, who has long praised the brand as a dynamic creative force.
M&S Gemini, on Warrington’s Europa Boulevard, has reopened following a major 10-month makeover “to cater to a wider range of customer shopping missions”.
Reuters
Featuring a refreshed Cothing and Hsome area and enhanced Beuty department, the timely reopening features the brand’s SS25 collections across womenswear, menswear and kidswear. There are also neon-lit areas to spotlight “M&S customer-favourite collections” including Per Una and Autograph and Jaeger.
Third-party brand offers also include a dedicated Mamas & Papa’s section adjacent to kidswear while other highlights include an improved M&S Footwear selection with a spacious try-on area, plus in-store bra- and suit-fitting services.
The expanded Beauty department is home to all M&S’s third-party and own brands, including the Apothecary collection, while showcasing a range of Clinique, Benefit Cosmetics and Estée Lauder fragrance products.
Dedicated Beauty Advisors are on hand while there’s colleague support to offer styling advice, and a new option that allows customers to skip the queues and pay straight away in its store fitting rooms. The Click and Collect service is also available on all its online Clothing, Home and Beauty orders.
Influencer Vogue Williams has launched a new kidswear line called Gen with M&S and Next becoming the first online platforms to bring the unisex childrenswear concept to market.
The line, which “reimagines childrenswear” has a focus on “versatility, durability, and timeless design”, we’re told.
Williams curated the pieces and said the launch responds to the growing demand for longer-lasting fashion.The result is a “unique, high-quality range that allows customers to shop freely without the constraints of traditional gendered clothing”.
The age 2-8 collection of essentials includes coats, waterproof onesies, dungarees and short-and-T-shirt sets, boldly coloured with pops of neon and fun prints, while “breaking the traditional boundaries of gendered clothing”. Prices range from £10-£34.
Each piece can be personalised with patches and features a unique ‘Wear Me, Love Me, Pass Me On’ label, “encouraging a culture of sharing and customiaation that makes each garment cherished keepsake while promoting the joy of passing on well-loved pieces”.
Williams said: “Finding high-quality, super-cute clothes for kids that actually last is not easy. I really feel like the Gen range hits all those needs. Kids… get to customise their own piece, whether it’s the first or third child along the line.”
It’s produced by Poeticgem Group and marketed via its subsidiary Luminoso Brands. Gavin Foster, managing director of the latter, said: “Vogue’s styling, vision and authentic voice has been key to the success in securing these fantastic retail partners and we look forward to forging a long term partnership with all parties.”
Entertainment8 years ago