Argentina welcomes back Tous for a second endeavor to penetrate its market

Tous Regains Full Family Control and Expands in Argentina

Spanish luxury accessories brand, Tous, has made a significant move in the market by buying back the 25% of the company from Partners Group, thus regaining full family control. This decision comes as part of a strategic plan to strengthen the brand's identity and growth.

In the closing days of 2024, Tous reported a net result of 45 million euros, marking a successful year for the company. The brand's growth is further evidenced by its expanded commercial network, now spanning 19 Latin American markets, including Argentina.

This expansion marks the second landmark for Modaes in Argentina. The new store, located on the first floor of the Unicenter shopping center - the largest and most well-known mall in Argentina, situated on the outskirts of Buenos Aires - will offer a selection of Modaes' latest jewelry, leather goods, and accessories collections.

The Unicenter shopping center will be home to the first Modaes store in Argentina, set to open in October 2023. The store spans 45 square meters, providing a space for customers to explore the brand's offerings.

Tous is not the only company that has landed in Argentina this year. Inditex, the parent company of Zara, has also expanded its presence in the market.

In August 2023, Tous's board of directors underwent some changes. Adolf Todó, with a long trajectory in the financial sector, joined the board, while Martin Brok and Patricia Sancho stepped down. The name of the new finance executive who joined the board remains undisclosed.

The return of Modaes to Argentina is noteworthy, as the brand previously withdrew from the market in 2011 due to restrictions on product imports. The first Modaes establishment in Argentina was in 2006, located in Patio Bullrich, Recoleta neighborhood of Buenos Aires.

In 2024, Tous reported an increase in its operating result (EBITDA) to 114 million euros and a revenue of 523 million euros, an increase of 9.4%. With over 600 stores in 40 countries, Tous continues to expand its global footprint.

The expansion into Argentina is a testament to Tous's commitment to growth and its belief in the potential of the Latin American market. As the brand continues to grow, it is poised to bring its unique blend of luxury and accessibility to a wider audience.