The Polish company is a leader in the industry. It has generated millions in profits
Running a family business is not easy. Few companies manage to successfully break through the market and achieve millions in profits. There are, however, exceptions. One of them is definitely the leader of the jewelry industry, Apart.
Almost everyone knows the Apart company. Jewelry stores are scattered throughout Poland, in shopping malls, but not only. Currently, there are over 220 salons in the country. Apart was founded in 1977 by a master of goldsmithing and jewelry, Adam Rączyński. A few years later, his brother, Piotr Rączyński, joined him.
Million-dollar profits in 2023
In 2023, Apart achieved a net profit of PLN 72.36 million, with net revenues of almost PLN 909 million (up from PLN 861.8 million in 2022). The company employed 2006 people at the end of the year.
How does the management evaluate the company?
“In the opinion of the company’s management board, the current financial situation of the entity is very good. However, every effort should be made to further increase revenues, while controlling operating costs, in order to effectively counteract the effects of inflation. The company achieved a net sales profitability of less than 8%, which is a result similar to 9% in 2022. In addition, every PLN 100 invested in the company’s assets brought PLN 8.12 of profit, and every PLN 100 invested in equity capital brought PLN 13.90 of profit. These are values comparable to the interest rate on deposits and bonds, and even exceed them, and higher than the annual inflation rate. It is worth noting that the level of this indicator was greatly influenced by debt service costs. At the same time, Apart remains the leader of the jewelry industry in Poland,” the company reported in its financial report for 2023.
“First and foremost, maintain profitability”
Apart’s management emphasizes that despite its good financial situation, the company must control costs to counteract the effects of inflation and rising operating costs. The company plans to further develop sales while maintaining profitability. Current challenges include the conflict in Ukraine, wage pressure, and fluctuations in exchange rates and raw materials. Despite these difficulties, Apart remains the undisputed leader of the jewelry market in Poland.
