Swarovski’s Lab-Grown Diamond sales doubled in 2024

Swarovski Crystal Business announced its 2024 results posting strong sales and a return to profitability. Despite a difficult trading environment, the company reported organic revenue growth of 6 per cent year-over-year to $2.1 billion with like-for-like growth of 8 per cent. Its operating profit was positive for the first time in five years. For the fourth quarter, ending Dec. 31, Swarovski saw 11 per cent organic revenue growth.

Swarovski’s jewelry sales were up 9 per cent organically, while its Created Diamonds sales more than doubled year-over-year. The company introduced the “Eternity” collection made with its branded lab-grown diamonds globally last year.

It noted growth in all regions, with record sales in the United States and its home market of Austria. Sales were up 10 per cent year-over-year in the Americas, up 11 per cent in Europe, and up 3 per cent in Asia, despite the slowdown in China, gaining market share in eight out of the top 10 markets. Its store profitability was up 7 per cent year-over-year.