Gismondi 1754: 2024 revenues down, confidence grows for 2025
The Gismondi 1754 Group closed 2024 with consolidated revenues of €12 million, marking a 14% decrease compared to the same period last year. Despite a drop in sales, particularly in the USA and Europe, the company highlights positive signs from other regions such as Japan and Switzerland, where annual growth was recorded.
In the fourth quarter of 2024, consolidated revenues amounted to €2.36 million, down 37% from €3.76 million in Q4 2023. The decline was primarily driven by a contraction in sales from the USA and European wholesale channels, as well as Special Sales. However, counterbalancing this trend, the Portofino store reported an increase of over 100%, while the St. Moritz store, despite a 5% decrease in Q4, saw a 15% annual increase, signaling a resurgence in luxury tourism and high-end buyers.
An analysis of sales channels reveals that Wholesale accounted for 43% of revenues, while Retail saw its share grow from 21% to 25%. The Franchising segment experienced a slight decline but still maintained strong results, with the Prague store achieving €897,948 in revenue.
Geographically, the combined Italy and Other Countries region saw a significant rise, now representing 69% of total revenues, compared to 33% in 2023. In contrast, the share from the US market dropped to 10%.
Massimo Gismondi, CEO and Creative Director, commented with optimism: “Despite the revenue decline in the fourth quarter, we remain calm and confident. This result reflects the dynamics of our niche market, characterized by high-end jewellery and exclusive craftsmanship. Our decline is lower than the industry average, confirming the strength of our positioning. Additionally, we are streamlining costs, a process that will yield tangible benefits in 2025.”
Gismondi is also cautiously optimistic about the future, particularly thanks to new partnerships in the Far East markets, which represent a significant growth opportunity for the company. The brand’s historical significance and quality, combined with a focus on innovation and contemporary design, are the foundation of its confidence for a return to growth in the coming year.
Antonella Reina, Editor VO+
