Rituals sets sights on €2.4bn turnover after record 2024 performance

Rituals has posted a “record” year in 2024, with turnover soaring 21% to €2.1bn, marking another milestone in the retailer’s growth trajectory.

The Amsterdam-based beauty and wellness brand said the increase, up from €1.7bn in 2023, is attributed to a mix of strong organic growth, continued product innovation, and global expansion, with it continuing its commitment to opening one new store every working day.

The brand saw a significant boost in both its physical retail and ecommerce channels, with a 24% increase in turnover from stores and a 17% rise in ecommerce, now accounting for 15% of total sales.

Rituals ended the year with over 1,300 stores across 42 countries, bolstered by a notable rise in Asia and strong performances in its European markets.

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The brand’s product innovations and strong sales across existing stores led to an overall turnover growth of 21%. Rituals also highlighted the success of its luxury lines and limited edition collections, which continue to attract new customers.

As part of its global expansion strategy, Rituals is focusing on further growth in Europe, with an eye on markets like France, Germany, and Italy. In the UK, the brand is set to continue expanding, having already grown sales by 39% in 2024.

The business is targeting turnover of more than €2.4bn in 2025, continuing its momentum with an aggressive global expansion strategy.

The brand plans to open over 240 new stores globally, including 37 in the UK and Ireland, with an emphasis on markets like Poland and the UK.

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