Swarovski plans to double its sales of crystal over the next 5 years, Markus Langes-Swarovski said recently.The crystal business is expected to bring a revenue of EUR 1.3BN in 2004, up 18% year-on-year. Swarovski expects revenue from its crystal, optics and abrasive products businesses to reach EUR 1.8BN in 2004, up from EUR 1.68BN (2003). The group is looking at expanding to China, which it considers a strategic core market, as well as to India. Swarovski couture collections are expected to boost the group's growth in Russia. Swarovski has been growing at an average annual rate of 16% Langes-Swarovski said. The company does not plan to increase the equity capital of its crystal division but abrasive product subsidiary Tyrolit will need additional funding, as most companies in the sector stay competitive through acquisitions. Swarovski does not plan to sell Tyrolit.
