Cold Shower for Carlos Soler-Duffo, General Director of Tous: 'Closure of a...'

Tous, the Catalan jewelry firm, has experienced a key year in its evolution. The company has managed to maintain its international presence and establish itself as a reference brand in the sector. However, it has also faced significant challenges that have influenced its financial results.

2024 has been a year of transition for Tous, especially with the conclusion of its strategic alliance with Partners Group, which began in 2015. Throughout this decade of collaboration, the brand underwent a series of changes, both organizationally and financially. However, the firm is closing this chapter, and the impact of this shift will be felt in the coming months.

Record Revenue, but Drop in Net Profit: "End of an Era"

Tous has achieved a positive result in terms of revenue, reaching 523 million euros in 2024, which represents a 9.4% growth compared to the previous year. This figure marks a record in sales, reflecting solid performance in a year marked by economic uncertainty, reports El País.

However, this increase in revenue hasn't translated into an improvement in net profit. The brand's net result has slightly fallen, from 50 million euros in 2023 to 45 million in 2024. This decline has been mainly attributed to the currency effect, a factor that has significantly affected the firm's accounts.

Despite this setback, Tous's CEO, Carlos Soler-Duffo, described 2024 as a "solid year." However, he also highlighted that this year marks the "end of an era" for the brand. This phrase underscores the end of a phase in Tous's history, as the firm has decided to repurchase 25% of Partners Group's shares.

Although the repurchase was completed in January 2025, Soler-Duffo explained that this change didn't directly affect the 2024 results. Nevertheless, he assured that any future impact won't alter the company's structure or strategic focus.

The decision to regain full ownership of the brand by the Tous family marks a significant change in the business structure. The company, now fully managed by the family again, has embarked on a new phase with the hope of continuing to grow without the intervention of an external fund. The Tous family, leading the business since 1920, will continue with its leadership, maintaining tradition and commitment to quality.

Digital Growth and Global Expansion as Pillars of the Future

Despite the drop in profits, Tous continues to bet on its growth. In 2024, the firm has managed to expand its digital presence, reaching 23.5% of total revenue through online sales. This channel has experienced a 10% increase, showing the potential of e-commerce in its long-term strategy.

In addition to digital expansion, Tous continues with its geographical expansion plan. The U.S. market has gained relevance for the firm, becoming one of the top three sales territories. As for China, the company remains cautious and has postponed its expansion plans due to market difficulties following the pandemic.

Tous has also committed to sustainability and innovation, launching the Tous-Elisava chair to promote research in design and creativity. This project reflects the firm's intention to continue being a reference in the jewelry sector.

Despite the challenges in 2024, Tous continues with its expansion and growth plans. The company remains focused on its digital growth, global expansion, and strengthening its position as a leading brand in the top-level market.