George Pragnell’s iconic watch and jewellery showroom in Stratford-upon-Avon will almost double in size when it fully re-opens in the first quarter of 2019.
The location, known as Pragnell House, is the largest shop owned by George Pragnell Limited, a group that now owns Tarratt in Leicester, Pragnell on Mount Street in Mayfair, and a private appointment space in a townhouse on Berkeley Square.
The business has agencies for Patek Philippe and Rolex in Stratford-upon-Avon, Leicester and London’s Mayfair, and works with other leading Swiss watchmakers including A. Lange & Söhne, IWC, Cartier, Omega and Breitling.
Turnover at the group touched £36.7 million in the year to May 2017 with operating profit of almost £4 million.
Stratford-upon-Avon remains the business’s biggest location, thanks in significant part to the strength of spending from overseas visitors to the town, which is the birthplace of Shakespeare.
In 2016-17, over half of the group’s sales were made to customers from overseas, according to accounts published at Companies House.
In an interview with WatchPro that will be published in the June edition of the magazine, Charlie Pragnell, managing director of George Pragnell Limited, said that the expansion and refurbishment in Stratford-upon-Avon is on course to be completed in the first quarter of next year.
“We have taken the unit next door to our current showroom and work is already underway. When we fully re-open next year, we will not necessarily do anything new, but we will have more space for everything we currently do,” Mr Pragnell said.