Peers Hardy has secured a five year extension to its licensing agreement with luxury handbag and accessories maker Radley, and will continue to produce its watches through to 2022.
Radley was sold to private equity company Bregal Freshstream in June, a change of ownership that might have ended the licensing agreement with Peers Hardy.
Instead, the Birmingham-based watch company will build on four successful years with Radley.
Nick Vance, Radley & Co marketing director says he is delighted to be extending the brand’s relationship with Peers Hardy as our watch licensee partner.
“Over the last four years, Peers Hardy have developed a strong foundation for Radley Watches within the specialist jewellery channels in the UK and we look forward to progressing the brand’s presence in watches in both the UK and internationally,” he adds.
For Paul Harry, Peers Hardy sales & marketing director, the extension of the license clears the way for further investment in growing the brand in the UK and overseas.
“We have around 750 doors in the UK and Ireland and are looking at an optimum of 1000 over the next couple of years. The international piece is also of huge interest as Radley are opening up new territories that the watches can follow,” Mr Harry tells WatchPro.
He is also convinced that the recent arrival of Justin Stead, formerly CEO of Aurum Group as Radley CEO; and Alan Stone-Wigg, formerly president of Timex Business as COO, will add further momentum to the British brand’s watch business.
‘The Radley brand is a British phenomenon and it has been a pleasure to develop their watch business over the last four years. With a recent change of ownership at Radley, there is now additional energy behind the brand with an ambition for both domestic and international growth for the core business plus a passion for the watch category with the arrival of Justin Stead as CEO and Alan Stone-Wigg as COO. Justin and Alan have extensive experience in the global watch market and their input into our partnership will be a huge help in taking the Radley watch business to new levels,” says Mr Harry.