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The Rise and Fall of Swarovski - Business Documentary

Full title: House of Swarovski - The Rise and Fall of The Crystal Kingdom - Business Documentary The year 2020 marked the 125th anniversary of Swarovski, but there’s little to celebrate. Revenue was down 30% from 2.7 billion euros to about 1.9 billion. 750 of its 3000 stores were closed worldwide. 1500 employees in Wattens lost their jobs this year, and 600 more expected to go in the next 2 years. The plan was to eliminate 6000 positions, which was about 20% of the company’s total workforce. CEO Robert Buchbauer once said, “we are forced to reimagine and rescale our entire Swarovski business…or we’ll end up among the losers." The pandemic might’ve exacerbated the decline of Swarovski, but the founding family drama over power and control pushed the company into a downward spiral of stagnation and failure. Is this really the end for the century-old Crystal Kingdom? Can Swarovski navigate its way through the most significant industry downturn in history? In this business documentary, we're going to explore the rise and fall of the crystal kingdom. #swarosvki #business #documentary -- Sources: https://www.dailymail.co.uk/news/arti... https://www.nytimes.com/2005/10/21/bu... -- Chapters: 0:00 Intro 2:27 The Beginning 4:09 The Rise of Swarovski 8:35 Present Day Swarovski 9:50 The Founding Family 11:41 California and Markus 15:18 CEO Resigned