Argentina welcomes back Tous for a second attempt at penetrating the local market
Spanish jewelry brand Tous is set to make a comeback in Argentina's retail market, announcing the opening of its first store in the country next October. The new store will be located on the first floor of the Unicenter shopping center, the largest and most well-known mall in Argentina, situated on the outskirts of Buenos Aires.
Tous's return to Argentina marks a significant milestone, as the company withdrew from the market in 2011 due to import restrictions. However, this second entry is a testament to Tous's resilience and commitment to expanding its global presence.
The new store will span 45 square meters and offer a selection of Tous's latest collections of jewelry, leather goods, and accessories. Tous currently operates over 600 stores in 40 countries, having expanded its commercial network to 19 Latin American markets, including Argentina.
In 2023, Tous welcomed Adolf Todó, a finance expert with a long track record in the financial sector, to its executive board. This move is part of Tous's ongoing efforts to strengthen its leadership and drive growth.
In the first year of its strategic plan, Tous increased its comparable operating result (EBITDA) to 114 million euros. The company's net result at the end of 2024 was 45 million euros, and its turnover for the same year was 523 million euros, representing an increase of 9.4%.
This return to Argentina is not Tous's first venture in the country. In 2006, the company set up shop in a store in Patio Bullrich, a neighborhood in Recoleta, Buenos Aires. Despite withdrawing in 2011, Tous is now poised to re-establish its presence in Argentina, offering its customers a chance to experience its unique blend of style and craftsmanship.
The upcoming store opening in October 2023 is expected to be a significant event in Argentina's retail landscape, marking Tous's return after a hiatus of about a decade. The store's opening will also see the departure of Martin Brok and Patricia Sancho from Tous's board of directors at the beginning of August.
As Tous continues to expand its global footprint, the brand remains committed to maintaining the quality and craftsmanship that has made it a beloved name in the jewelry industry. The new store in Argentina is a testament to this commitment and a step towards a promising future for Tous.
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