Elumeo SE Implements Cost Reduction Plan Amid Forecast Adjustments

Elumeo SE, a European leader in gemstone jewelry retail, has announced a significant cost reduction initiative amounting to EUR 5.9 million by 2025, while revising its 2024 forecasts downward. The move is primarily driven by increased fees for broadcasting teleshopping channels in Germany, which the company argues are excessive and in violation of antitrust laws. Elumeo plans to pursue damages for these fees.

As part of the restructuring, live broadcasting will be reduced from 15 to 10 hours, accompanied by a reduction of nearly 50 full-time positions. The company aims to streamline operations through digital and AI-driven efficiencies, focusing on jewelry priced above EUR 50. These changes target long-term sustainability.

While international operations show promising growth, leading to expanded broadcasting in Spain, Italy, and planned launches in Poland and the Netherlands, financial targets for 2025 have been adjusted. Revenue and margins in 2024 have not met expectations, leading to a downward revision of adjusted EBITDA forecasts.