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Rituals hits record revenue: €2 billion milestone in sight

In 2023, Rituals achieved a record turnover of more than 1.7 billion euros, representing a growth of over 22% compared to the 1.4 billion euros in 2022. This growth is attributed to both organic growth and the opening of new locations, including more than 150 new products, 200 new stores, and 500 new locations in luxury department stores, perfume shops, and airports.

While profit figures are not disclosed, the company reports healthy margin development, back at pre-pandemic levels. Owner Raymond Cloosterman is optimistic about the future and aims to reach the milestone of 2 billion euros in turnover by 2024 by opening about 5 new stores weekly and additional expansion in Asia. Sustainability and impact remain key focal points for Rituals, alongside financial performance.

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