Strong TOUS results in 2019 help cushion the impact of COVID-19
TOUS continues to grow another year in term of both sales and profits. The company closed the 2019 financial year with a profit of €30 million, up 6.8% from last year.
These results once again underscore Tous’ robust business model and strategy, instrumental for better addressing the crisis triggered by the COVID-19 pandemic. This stability is based on two main cornerstones: internationalization and omnichannel retailing. The company has more than 700 stores in 56 countries, while continuing to promotendigitalization and integration across various channels.
Online sales consolidate its position as the third most relevant market, after Spain and Mexico. The company had a digital presence in 24 markets by the year’s end, a trend that accelerated during the lockdown measures, during which sales through digital platforms more than doubled.
The consistent sustained growth experienced in recent years was disrupted in 2020 by the strong impact that the lockdown and its subsequent consequences had on sales. Most stores were open by July’s end, but there are still countries where stores remain closed.
Faced with the economic effects of the COVID-19 pandemic, TOUS implemented a strategy based on three "P": protect people; protect the business, mainly through cash management; and protect the future, activating employee assistance and social initiatives to mitigate the impact of the crisis.One hundred years of jewelry