Swarovski UK revenues lose some shine
The Swarovski crystal jewellery empire on Friday warned difficulties on the High Street have taken some sparkle off UK revenues.
Accounts just filed by the upmarket retailer show sales here dropped 10.6% to £74.2 million in 2017.
The firm, which has a number of concessions as well as standalone shops, said part of the fall was due to store closures.
But, it added: “The challenges posed as a result of the general decline in consumer confidence seen on the UK High Street has had an impact”.
The company, founded in Austria in 1895, narrowed UK losses to £1.2 million from a £2.2 million loss.
Swarovski UK’s strategic report said: “The directors expect the business to continue with moderate growth in all divisions as a result of both consolidation and further expansion under an efficient store portfolio management programme.”
It added that “consumer-facing initiatives” to boost business will be a key focus going forward.
