With a commendable transparency, mostly unknown to the rest of the sector, Gismondi 1754 publishes the accounts of the Genoese jewelry company on a quarterly basis. Those relating to the first quarter of 2025 photograph the decline that emerged in the second half of last year, which the policies of the new US administration certainly do not lend a hand.
Last March, Gismondi recorded sales revenues of 3.6 million, down 17% compared to 4.3 in the first quarter of 2024. The decline is mainly attributable to the decrease in sales in the Special Sales channel, linked to the cyclical nature of requests for tailor-made products by high-spending private customers. The concentration of sales was concentrated in the Italy and Switzerland areas, «compared to a contraction in the remaining areas, influenced by the continuation of the Russia-Ukraine conflict and broader international geopolitical instability. In the United States, the protectionist policies introduced by the Trump administration, in particular tariffs, have already had a negative impact on sales in the first months of the year”.
In any case, the company’s strategy will be increasingly focused on the high-end, where Gismondi is able to express its maximum potential, distinguishing itself from the competition and at the same time obtaining higher margins. In recent months, moreover, the management has been applying a series of measures aimed at significantly reducing costs and inefficiencies, as well as optimizing the warehouse and working capital, with the aim of optimizing the use of resources and gradually recovering margins over the next few quarters. With regard to the incidence of revenues by sales channel, in the first quarter of 2025 a concentration of sales in the Wholesale, Retail, Franchising and Special Sales channels is confirmed.
The first quarter of 2025 presented significant challenges, but Gismondi 1754 continues to demonstrate its solidity and determination. Although the decline in sales has affected some areas and channels, we are confident in our ability to adapt to the new market dynamics. We continue to focus on channels that show solid stability, such as Franchising, and on markets such as Italy and Switzerland, where we are well positioned. We are monitoring the evolution of international markets, we are confident and ready to take advantage of the opportunities that will emerge in the coming months. Massimo Gismondi, CEO of Gismondi 1754
