For the Genoese jewelry company, 2025 will see a decline in revenue, but the fourth quarter will show a recovery.
The cold year ended with a favorable wind. Gismondi 1754, a Genoese jewelry company listed on the Euronext Growth Milan index of the Italian Stock Exchange, has released its (voluntary) fourth-quarter 2025 and full-year results. The result: revenues for the entire year 2025 will decline, but the fourth quarter was positive, a sign of a trend reversal.
In the fourth quarter of 2025, Gismondi 1754’s total sales were €3.1 million, a significant improvement compared to €2.3 million in the same period of 2024. This positive result was mainly driven by channels and geographical areas aligned with the company’s strategy of focusing on foreign markets and the US, offsetting the declines observed in the retail segments. In particular, the Wholesale segment, both in the United States and Europe, showed significant growth, over 100% and +91%, respectively, compared to the fourth quarter of 2024, accompanied by strong growth in Special Sales compared to the same period in 2024.
Consolidated sales for 2025, however, remained declining: €10.4 million, a 13% decrease from €12 million recorded at December 31, 2024, despite a marked improvement in performance at the St. Moritz (+95%) and Prague (+37%) stores, which significantly exceeded last year’s levels. An analysis of revenue by sales channel shows that the Wholesale channel accounts for 38% of the total (compared to 48% at December 31, 2024). The Retail channel increased its share of total sales from 25% at December 31, 2024, to 31% at December 31, 2025. The Franchising channel reached a 12% share at December 31, 2025, up from 7% the previous year, while Special Sales maintained a stable 18% share. According to Gismondi, the US represents 14% of total revenues, up from 10% in 2024. The Czech Republic and Switzerland also increased (14% and 22%), while the share in Italy and other countries totals 50%.
The significant increase in revenue recorded in the fourth quarter is a significant result and clearly confirms the Group’s shift in direction, significantly strengthening our confidence in its medium- to long-term growth prospects. This is a clear sign of the solidity of our business model and the growing appeal of our offering. This result fully reflects the distinctive positioning of our core niche—high-end, bespoke jewelry with a strong artisanal component—and confirms the full effectiveness of our strategy of focusing on foreign markets, particularly the United States, currently one of the Group’s main drivers of growth. During the year, we also determinedly continued the cost rationalization process initiated at the end of last year, with the aim of further strengthening our operating structure and improving profitability. We are confident that this process will generate significant structural benefits in 2026, contributing to a progressive improvement in margins. We look to the future with great enthusiasm and renewed ambition, thanks to the progressive consolidation of our presence in the United States and Europe, high-potential markets that represent an important platform for the Group’s growth, value creation, and risk diversification.
Massimo Gismondi, CEO of Gismondi 1754
