STATE OF THE NATION’S TOP 10 WATCH RETAILERS. No.9: T H Baker

T H Baker’s most recent financial results are for the 12 months ending October 31, 2016, so are roughly six months less current than all other businesses we feature in this report.

There was also a change in the reporting period in 2014, so there is a short year of March – October 2014 that gives a false impression of a bad year in our graph. Before that, the end of year fell on February 28.

Accounts for the most recent two years show a dramatic rise from what was a company trading at around £30 million turnover per year to one with sales nudging £60 million.

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Much of that growth has been achieved through the opening of new stores, many of which have been franchise shops for Pandora jewellery. Right now, the group has 32 doors: 13 T H Baker, 18 Pandora and one Swarovski.

Pandora remains the greatest mass market draw on the high street, and we will all have witnessed the need for crowd control at Pandora shops in shopping centres at Christmas.

T H Baker invested early and fearlessly in the brand, and is reaping the rewards not only in sales, but also in expertise.

Pandora and its partners understand the benefits of ‘Big Data’ better than any comparable business, and these skills are being applied by T H Baker in its multibrand stores that stock Breitling, Omega, TAG Heuer Bremont and Longines among other prestige watch and jewellery brands.

VITAL STATISTICS

Turnover: £ 59.81 million (+23.5%)
Operating Profit: £6.36 million (+13.4%)
Employees: 507
Doors (Mar 2017): 32

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