Pragnell sales soar to £37 million as tourists flock to Stratford-Upon-Avon

Pragnell House Stratford-Upon-Avon

George Pragnell Ltd sales rose by over 16% in the 12 months to May 2017, accounts published at Companies House this week reveal.

The Stratford-Upon-Avon prestige jeweller notched sales of £36.75 million, a rise of over £5 million over the previous financial year.

Operating profit rose from £3.2 million to £4 million.

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The financial results pre-date a major investment to open a first Pragnell boutique in London’s Mayfair in November, the first new family-owned independent to sell both Patek Philippe and Rolex in the capital in decades.

In a director’s statement accompanying the financial results, Pragnell managing director Charlie Pragnell said that strong international growth had contributed to the 16% rise in sales, but he is also happy to report that UK-centric turnover has remained strong and is improving.

In the 2016-17 financial year, Pragnell as a group operated in four locations: its flagship in Stratford-Upon-Avon, an invitation-only jewellery service in London’s Berkeley Square and two Tarratt showrooms in Leicester and Rugby. The Mayair store on Mount Street takes the group up to five locations.

Stratford-Upon-Avon welcomed record numbers of visitors in 2016 thanks to the city celebrating the 400th anniversary of the death of William Shakespeare, its most famous son.

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Rob Corder

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