Rox sales rise 5% with own-label jewellery performing strongly

Rox looks to offer consumers a luxury champagne experience

Rox UK Limited has reported sales of £14 million in the financial year ending March 31 2017, a rise of over 5.5%.

Operating profit rose from £194,000 to £254,000.

In a statement accompanying the accounts, Rox’s co-founder and director Kyron Keogh said that all of the group’s stores saw double digit rises in sales except for Aberdeen, a city affected by the weak oil price in the trading year, and Braehead, a Glasgow shopping centre location where the company sells less expensive watches and jewellery than at its Argyll Arcade flagship in the city.

Story continues below
Advertisement

Rox’s high growth showrooms are in Glasgow, Edinburgh, Leeds and Newcastle.

Like for like sales of Rox own-label jewellery, engagement rings and wedding bands grew during the 12 months as investment in unique designs and superior craftsmanship showed improved returns.

In the same period, like for like sales of branded silver jewellery and fashion watches dropped in line with the falling trend for fashion jewellery and watches.

The current financial year will be boosted by the addition of Chopard in April 2017, and Zenith in September, the company states.

Looking ahead, Mr Keogh states in the report: “In line with previous years, the principal risks and uncertainties are the effects of a downturn in trade associated with the economic climate, excessive fluctuations in the supply, price and availability of diamonds, gold and platinum and the abolity to maintain and buold relationships with luxury watch brands. The company continues to focus on providing customers with an extraordinary shopping experience while remaining at the forefront of luxury jewellery retail.”

Rox also says it plans to open another store in 2018, although its location is not yet confirmed.

Authors
TAG CLOUD , , ,

*

Related posts

Top