Rox UK Limited has reported sales of £14 million in the financial year ending March 31 2017, a rise of over 5.5%.
Operating profit rose from £194,000 to £254,000.
In a statement accompanying the accounts, Rox’s co-founder and director Kyron Keogh said that all of the group’s stores saw double digit rises in sales except for Aberdeen, a city affected by the weak oil price in the trading year, and Braehead, a Glasgow shopping centre location where the company sells less expensive watches and jewellery than at its Argyll Arcade flagship in the city.
Rox’s high growth showrooms are in Glasgow, Edinburgh, Leeds and Newcastle.
With the exception of Leeds, where Rox solely sells its own-brand jewellery, luxury watches have been key to success. “Like for like sales of luxury watches showed double digit growth as our investment in Audemars Piguet and Hublot showed improved returns and helped increase the average transaction value,” Mr Keogh states.
The current financial year will be boosted by the addition of Chopard in April 2017, and Zenith in September, the company states.
Rox also says it plans to open another store in 2018, although its location is not yet confirmed.