Fraser Hart was founded in Glasgow in the 1940s and was acquired by Anthony Nicholas Group in 2007. In the decade that the chain has been under new ownership, it has increased its number of stores to 39 and is currently working through a fundamental repositioning that will see it align its jewellery, store design and watches at a more premium end of the market.
“It is probably the biggest change we have made to our business in the past 10 years. It is driving everything we do, and is all framed by a clear vision on what our target market is. It is about a quality proposition on products and a breadth of products across luxury watches and a strong bridal and general jewellery portfolio,” Fraser Hart chief executive Noel Coyle told WatchPro in August 2017.
The strategy kicked into high gear in 2017, building on a successful 2016-17 in which operating profit increased by 31% to £4.6 million from sales of £81 million.
VITAL STATISTICS
Turnover (2016-17): £ 81 million (+6%)
Operating Profit: £4.6 million (+31%)
Employees (June 2015): 466
Doors: 39
