Recently, luxury wellness brand Rituals announced a record-breaking fiscal year in 2024, with turnover rising 21% from €1.7 billion the previous year to €2.1 billion. This growth was driven by strong performance across all channels and markets, successful product innovation, and rapid retail expansion.
The Amsterdam-based company attributed the sales surge to the popularity of new product launches, including its luxury men’s collection and the limited-edition Alchemy Collection.
Rituals stated that in 2024, the brand opened an average of one new store per working day and saw strong growth in Asia. The opening of 174 new stores further boosted organic sales growth, expanding Rituals’ global retail footprint to over 1,300 locations.
Brick-and-mortar retail remained a key driver, with in-store turnover growing 24% overall and 11% excluding new openings, reaching €1.5 billion. E-commerce also performed strongly, growing 17% to €308 million and now accounting for 15% of total revenue. Meanwhile, wholesale sales rose 8% to €204 million, and travel retail increased 10% to €59 million.
Looking ahead to 2025, Rituals is aiming for turnover to exceed €2.4 billion and plans to further expand internationally, particularly in Europe and Asia. Key markets include France, Germany, Italy, the UK, Poland, Greater China, and Southeast Asia, with store openings continuing at the same pace.
Rituals entered the Asian market in 2022 and opened its first store in mainland China in September 2023 at the Shanghai IFC Mall. According to the brand’s official WeChat account, it now operates six stores in mainland China. Additionally, the brand’s WeChat mini program shows nine stores currently open in Hong Kong.
