A bang in Tyrol: For the first time in the 127-year history of the world-famous traditional company Swarovski, someone who is not from one of the founding families becomes CEO. Alexis Nasard will become the new Chief Executive Officer (CEO) on July 4 and will also lead the headquarters in Wattens (Innsbruck-Land district).
For Swarovski, this is the next milestone in the transition “from a family business to a family business”. Last November, the crystal group presented its new board of directors, which for the first time consists of a majority of independent members. However, the Swarovski family will “continue to actively shape the legacy of company founder Daniel Swarovski in the owner role,” it said in a broadcast on Tuesday.
In addition, the fifth generation, Markus Langes-Swarovski, Robert Buchbauer and Mathias Margreiter, has three members on the Board of Directors.
“International Top Manager”
With Alexis Nasard, “a top international manager” has been recruited, “who as CEO has already very successfully led companies and implemented transformation processes and also has extensive experience in the management and innovation of global brands in the fashion industry and in the consumer goods industry” . Nasard’s main task will be to complete the transformation of Swarovski – “as a brand firmly established in the luxury market” – and to adapt the business model along the value chain so that it is scalable and focused on profitable growth.
The fact that Nasard is also taking over the management of Wattens is a renewed and clear commitment to the location. “We want to send a clear message: Wattens is not only the origin of Swarovski, but also the beating heart and the innovation engine of this company,” said Luisa Delgado, Chairman of the Board of Directors. “The Board of Directors is unanimous: Wattens will continue to play a central role in the future when it comes to innovation, efficiency and the very special Swarovski experience.”
“I’m looking forward to a challenge”
Nasard emphasized in the broadcast: “I am delighted to join Swarovski and look forward to the challenge of leading the company’s transformation and anchoring the brand in the luxury market, which is already being felt in the market.”
downsizing and litigation
In recent years, Swarovski has repeatedly made headlines for job losses and internal family squabbles. More than 1,000 employees were laid off at the headquarters, with some family members disagreeing and fearing for the site’s survival. In the medium term, 3,000 people should be employed in Wattens. The creation of a Swarovski Foreign Holding Company (SAH) also caused enormous resentment. The dispute eventually went to court, but the Innsbruck Regional Court eventually approved the registration of the SAH in the Commercial Register.
The company also suffered heavy economic losses, not least due to the corona crisis. Where the company still generated 2.7 billion euros in 2019, turnover had collapsed last year to 1.9 billion euros. Swarovski announced that it now wants to reposition itself in the “affordable luxury segment”. According to a list by management consultant Deloitte, Swarovski is still one of the 30 largest manufacturers of luxury goods in the world.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
