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The brothers have built a jewelry powerhouse. What results does Apart generate?

Bracia zbudowali jubilerską potęgę. Jakie wyniki generuje Apart?
  • Apart is a brand that has been present on the Polish market for nearly five decades and has been a leader in the jewellery industry for years.
  • It currently has over 220 salons throughout the country. The company's profit for the past year is PLN 72 million.

The beginnings of Apart date back to 1977 when Adam Rączyński, Master of Artistic Crafts in the specialty of goldsmithing and jewelry, opened his workshop. In 1983, Adam Rączyński was joined by his brother, Piotr Rączyński, to jointly develop the company. Today, Apart is the largest chain of jewelry stores in Poland – it has over 220 stores with jewelry and watches.

Jewelry leader from Suchy Las with profits of PLN 72 million

The company focuses mainly on: retail sale of jewellery and watches to individual and institutional customers and development of a network of retail outlets, including in retail parks.

For 2023, the company achieved a profit of PLN 72,362,391.86.
Net revenues amount to PLN 908,998,138.17 (PLN 861,821,220.07 in 2022).

At the end of 2023, the company employed 2,006 people.

Apart announces cost control. Wants to maintain results

– 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 profit, and every PLN 100 invested in equity capital brought PLN 13.90 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 writes in its financial report for 2023.

However, given the ongoing conflict in Ukraine, the situation on the labor market, high pressure on wage growth, high interest rates, uncertainty in the banking sector at the international level and fluctuations in currency and commodity rates, the company's goal is primarily to maintain its current results.

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