Under the epidemic, the economy is depressed, and companies all over the world are basically having a hard time. So is Swarovski, the most famous crystal manufacturer in Europe. Last year, the annual sales of this brand reached 3.5 billion yuan, but this year, it is very difficult. The decline in market share and revenue has been plaguing the company. Therefore, in order to reduce costs, Swarovski plans to reduce the global network of 3,000 stores instead of 3,000. Be careful not to misunderstand here. Swarovski laid off employees and reduced the store network mainly for their own survival.

However, Swarovski has also been criticized for occupying the market with artificial crystals in recent years, but now people's general awareness has increased. For artificial crystal, people are not particularly cold, but they prefer it to those high-grade gold and silver jewelry. Isn't it sweet to spend a high price on gold and silver jewelry that can preserve value? It costs a lot of money to buy this worthless crystal. Now there are more and more competitors in the market, and Swarovski's profits are getting less and less.

Now it's Swarovski. Due to the pressure of external competition, there are some bottlenecks in its own development, which urgently need cash flow supplement. Because of the impact of the epidemic, the brand's management is very bad, so it has contributed to Swarovski's holding family and is willing to sacrifice part of its equity in exchange for cash flow to help the current company tide over the difficulties.

Therefore, under the current situation of internal and external troubles, Swarovski's management or employees are under great pressure. The CEO of Swarovski also said that if the company wants to survive, it must adhere to the principle that less is more. According to this sentence, we can also draw the conclusion that Swarovski should cancel the wholesale system.