Harry Winston’s prime positions on London’s Bond Street and in the Harrods Fine Jewellery Room gave the business a perfect opportunity to benefit from high-spending visitors to the UK last year as they took advantage of a slump in the value of sterling.
The Swatch Group-owned luxury jewellery and watchmaker saw sales spike to £18 million in 2016, a 33.6% rise over the £13.5 million turnover reported in 2016.
Operating profit dipped slightly from £1.4 million in 2015 to £1.07 million in 2016.
Added to sales of all other Swatch Group UK’s brands, turnover from subsidiaries in this country totalled £99.3 million in 2016.
Harry Winston UK Limited does not provide a breakdown between sales of jewellery and watches, but its history in the diamond industry makes jewellery by far the greater contributor. Its gem-encrusted watches are better described as jewellery pieces.
The 33.4% increase in sales last year would have been even greater were it not for the closure of Harry Winston’s Bond Street store for nine months for a major refurbishment.
The boutique re-opened in November with, for the first time, an entire floor dedicated to its timepieces.