There is no published information on the breakdown between watches and jewellery sales for Boodles, but there is little doubt its fine jewellery is the foundation of the company’s success and the greatest contributor to its turnover and profit.
Patek Philippe is the only watch brand sold by the company, and it sells the watches in five out of nine Boodles boutiques across the UK, which range from flagships in Liverpool and London to concessions within Harrods and prestigious hotels The Savoy and Grosvenor House.
Boodles moved into new larger shops in Manchester and London’s Knightsbridge in the financial year ending February 2017, both of which have major Patek Philippe shop in shops, but this investment and disruption had little impact on its industry-leading profit margins.
Turnover for FY17 was £67 million, flat on the prior year, and operating profit was up 8% at £11.26 million.
The impact of the expansion in Manchester and Knightsbridge, plus the addition of a concession in Grosvenor House hotel, will be felt in the current financial year that is just ending.
Turnover: £ 67.07 million (+0.3%)
Operating Profit: £11.26 million (+8.4%)
Doors (Feb 2017): 9