HAPPY NEW YEAR 2021

Daniel Swarovski founded this firm 125 years ago by developing a machine to cut glass to shimmer just like diamonds. Today, the company is managed by his great-great grand-children. It is a diversified company offering rhinestones, binoculars, jewellery and crystal frgurines. Swarvoski crystals adorned the outfits of many celebrities.

These days the shine is losing lustre Chinese competitors make crystals as bright as them at a fraction of a cost. Thus the revenues are going down by as much as 30 per cent. They will have to cut costs.

Some family members want to set up a holding company whereas some are opposed to this idea.