BREAKING NEWS: City sources claim jewellery group Aurum Holdings could be up for sale

The Grand Opening of Mappin & Webb Flagship Regent Street

Apollo Global Management, the US-based investment company that owns Aurum Holdings, is reported to be looking for a buyer for Britain’s biggest jewellery retailer.

Aurum Group runs Goldsmiths, Mappin & Webb, Watches of Switzerland and Watch Shop in the UK, which have been benefiting from a massive surge in sales this summer since the value of the pound slumped.

A story by Sky News city editor Mark Kleinman reports unnamed sources close to the situation saying Aurum had been one of the big winners from the Brexit vote, enabling it to cash in on its status as the UK’s largest retailer of luxury watches and jewellery, and that bankers are expected to be appointed to oversee the sale in the next few weeks.

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Professional Jeweller’s sister publication Watch Pro approached Aurum Group CEO Brian Duffy for comment, but he is unlikely to be available today.

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