Total sales for the UK’s top 10 watch and jewellery retail groups have been growing at an average of 7% for the past six years.
The consistent success of these groups is revealed in exclusive research by WatchPro that will be published in the February edition of the magazine.
The WatchPro State of the Nation’s Retailers tracks the turnover and operating profit of the 10 biggest groups from 2011-2017, and discovers that total sales have risen by almost 40% since 2011 to £1.62 billion in the 2016-17 financial year.
Watchfinder, a specialist in pre-owned watches, is by far the fastest growing business, with sales rising by 554% over the past six years from £13.25 million in 2011-12 to 86.65 million in 2016-17.
Of the new watch and jewellery businesses, Chisholm Hunter is fastest growing, with turnover rising 119% since 2011 to £36.05 million in its most recent financial year.
UK Jewelry, the Signet Jewelers-owned operation that comprises Ernest Jones and H.Samuel, is the biggest loser in the top 10, with UK sales dropping by 10% from £476.73 million in 2011-12 to £431.40 in 2016-17.
Aurum Holdings, whose brands include Watches of Switzerland, Goldsmiths, Watchshop, Mappin & Webb and The Watch Lab, has increased sales by 88% over the past six years to £565 million in 2016-17 and is now comfortably the largest group in the UK.