Norwich jeweller Winsor Bishop saw sales rise by 5% to £9.1 million in the year ending March 31, 2018.
Winsor Bishop is the only Rolex and Patek Philippe authorised dealer in Norfolk, giving it a territorial advantage in an area that is expanding faster economically than most other regions of the UK, and it has a growing community of wealthy retirees.
“The shop on London Street showcases one of the finest collections of Swiss watches in the East of England including Rolex, Patek Philippe, Breitling, Omega, TAG Heuer and Tudor alongside a carefully curated collection of fine jewellery ensures that Winsor Bishop is one of the East of England’s leading independent jewellery retailers,” says Damian Farrimond, director of Winsor Bishop.
In January this year, Winsor Bishop closed a store in Cambridge as the financial performance was “significantly below expectations”, according to Mr Farrimond.
The 2018 accounts include a full year from the Cambridge store, and a first full year for a Swarovksi franchise store that the company runs in Norwich.
The star performer was the Norwich multibrand flagship, which managing director Sophie Fulford says included “an exceptional year of trading where our EBITDA grew by 51% over the previous year to £1.2m”.
For the current financial year, trading has continued to been strong with our turnover up 7% on previous year, Ms Fulford tells WatchPro. “December turnover so far is up 28% on previous year,” she reveals.