Jewellery retailer Argento has seen sales increase by an average of 30-40%, with one store seeing nearly 50% growth following the firm’s £5 million project to refit and upgrade its sites.
Chief executive officer, Peter Boyle, told Professional Jeweller that the new store design has had a dramatic impact on sales and footfall. Argento’s average store size has increased from 350 sq ft to around 1,200 sq ft.
The multibrand jewellery retailer has also seen almost 25% growth in January alone on its e-commerce site as it begins to export more.
Boyle noted that the retailer has seen another hugely successful year with Pandora, whose product sales with the retailer have increased 6% on last year. He also expressed a desire to secure “three or four” more Argento sites around the UK this year.
Boyle said: “We’re in the process now of deciding whether we go forward and open more stores. We’re evaluating the number of sites and we’ve done a few testers where we’re reasonably happy with the results.
“We will look at trying to cluster stores in other areas, if we can. But the difference in England and Scotland is that the retail rents are so dramatically higher than in Northern Ireland, more than double, so our model might not add up in every space.”