×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Vienna/Zurich — For more than a century, Swarovski has churned out crystals in every imaginable shape and form, from sparkling dolphin figurines to encrusted fountain pens to glittering mobile-phone cases. An affordable indulgence rarely costing more than a few hundred dollars, Swarovski trinkets have invaded every corner of the world, providing a comfortable life for the family behind the empire and for the people of Wattens, the small town in the Austrian Alps where the company is based.

But as Swarovski celebrates its 125th anniversary, there’s little cause for jubilation. Revenue is set to take a hard hit this year, falling by a third to about €2bn; management has announced 6,000 job cuts; and the family risks ceding some control should the new CEO eventually prevail with his plans for a possible stock-market listing or a strategic partner...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.