Swarovski to stop crystal production?

The winter of 2020 awaits us with sad news - Swarovski stops selling components to its partners, distributors and other legal and natural persons. It will no longer be possible to buy Swarovski crystals, pearls and other products separately.

The Swarovski group with its manager Robert Buchbauer has adopted a new development strategy aimed at strengthening and developing the brand itself. 80% of shareholders voted for the new strategy. This decision has not been easy, causing controversy within the Swarovski family .

Swarovski wants to move from the world of premium to luxury brands, so the crystals will not be as widely available as before.

6,000 employees have been laid off and in the next 2-3 years, Swarovski expects a 20-30% drop in turnover, after which it will recover again and eventually grow.

Swarovski will continue to manufacture the crystals, but will either use them for their own finished products or sell them to other luxury brands that receive Swarovski's approval, and only on the condition that they do not use the Swarovski name.

Rumors about changes in the group have been circulating since the summer, however, an official announcement was made only in the fall.

From December 1, 2020, Swarovski will begin reducing component production and from January 1 to June 30, 2021, only stock balances will be sold.

From October 2021, the use of the Swarovski name will be severely restricted.

Swarovski celebrates its 125th anniversary this year. The company has 34,500 employees, and its production facilities are located all over the world - in Austria, India, Thailand, Vietnam, Serbia, USA. In 2019, the turnover of the Swarovski group reached EUR 2.7 billion.

Back to blog