Turnover at Chisholm Hunter Holdings Limited increased by 9% to £36 million in its financial year ending March 2018.
The luxury watch and jewellery group, which celebrated its 160th anniversary in 2017, now has 22 showrooms across the UK.
Its 2016-17 sales were almost double the £18.9 million recorded just four years ago in the 2013-14 financial year.
The business is particularly strong in fine diamond jewellery because of the background of Harry Brown, who brought his background as a gemologist to the company when he acquired it in 1993.
The company has proved that it can thrive without Britain’s two biggest luxury Swiss watch brands. It stocks neither Patek Philippe nor Rolex, but specialises in working with companies with more exclusivity including Vacheron Constantin, Breguet and Blancpain.
Operating profit for Chisholm Hunter has dipped for the past two years from a peak of £3.9 million in 2014-15 to £2.8 million in the latest financial year, during which the business made a massive investment in a new flagship store in Edinburgh.
“At Chisholm Hunter we have continued with our model for managed and sustainable growth last year. Throughout this period there has been significant reinvestment in the following: a new and more efficient website platform, three major store refits, the exclusive addition of luxury brands to our portfolio such as Vacheron Constantin, Breguet, Blancpain, and Glashütte Original, and lastly the acquisition of our flagship three story boutique in Princes Street Edinburgh,” Mr Brown explains.
“Investment in training and development of our people, has ensured that customers continue to be provided with the highest standards centric to the Chisholm Hunter ethos. This has contributed to this years 9% growth in sales and £3.6 million EBITDA,” he adds.
2018 is looking like another year of balancing investment in Chisholm Hunter’s growing network.
“In to the new year the expansion plan continues with three new luxury Chisholm Hunter boutiques already confirmed – our Buchanan street 3000 square foot plus boutique, opening next year being the closest on the horizon,” Mr Brown reveals.