The phrase ‘compassionate capitalism’ might have been coined to describe Beaverbrooks under the leadership of Mark Adlestone. He is photographed here during a £10 million renovation at Heathlands Village, just one of the charitable projects to which he devotes time, money and expertise.
Heathlands is part of FED, a charity that provides adult social care – particularly elderly and end of life care – for people in Greater Manchester. Mark started working with FED in 2006, and became its chairman in 2008 after two years mentoring its CEO Karen Phillips. The commercial success of Beaverbrooks is vital to continuing this charitable work.
“Our purpose is enriching peoples’ lives. Jewellery and watches are a way to make money, and we use that money to enrich the lives of our community, our staff, our customers and our charities,” says Mark.
Every year Beaverbrooks donates 20% of post-tax profits into the Beaverbrooks Charitable Trust, which then distributes money to good causes. “Since 2000, we have given more than £7 million to charity,” Mark reveals. One third of Beaverbrooks staff also give time, and opt into a salary sacrifice scheme, a highly tax-efficient way for them to donate to charity. “Our company’s values and personal values are very much interlinked,” he concludes.