Majorica in Mallorca

Majorica, where organic pearls are made by hand. | Maria Nadal

Andrew EdeManacor15/02/2023 09:03
TW
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Majorica, the pearl company that was founded in Manacor in 1890 by German Edward Heush, filed for bankruptcy in October 2020. Now operated by the Majolaperla business group, the CEO, Didier Grupposo, says that "the new Majorica is entering a new and exciting stage after the crisis suffered during the pandemic".

"We are now in an awakening phase, guaranteeing the new Majorica's present and future. We are the company that invented organic pearls, so when consumers think of pearls, they should think of Majorica."

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The company anticipates turnover of at least 22 million euros in 2023, matching sales achieved prior to the pandemic. The business plan is for turnover of 50 million in 2025 and 2026 and for expansion in markets such as Germany, Mexico and the US, where there is a good deal of brand awareness. The aim is to also have a greater presence in Asia. The company sees this as an "ambitious market" with all the ingredients for further expansion.

At present, there are some 120 employees and 1,500 points of sale. A fifth store in China recently opened and a store in Mecca will open shortly.