Aurum Holdings is looking to create exclusivity within in jewellery offering as the Group refuses to join in with today’s discounting culture.
While watches now represent over 70% of business, when it comes to jewellery Aurum Holdings won’t get pulled into a pricing battle.
Aurum Holdings chief executive officer, Brian Duffy, says: “In jewellery we are trying as much as we can to be exclusive and not to be competing in the discount-led sector. That is proving to be successful.”
Duffy reveals the two most important jewellery brands are Mappin & Webb and Goldsmiths.
“We have very much positioned their jewellery lines as brands,” shares Duffy. “We give them great in-store presentation, we support them with advertising — digital and other above the line advertising. We have put a lot of money behind Mappin & Webb, positioning it correctly as a great luxury heritage brand.”
He continues: “Our brands offer fabulous diamond and bridal jewellery. Mappin & Webb jewellery, for example, has been very successful within Goldsmiths stores as we position it as a third party brand.”
To complement its own jewellery pieces and luxury watches, Aurum Holdings also works with brands such as Fope and Messika, which it attempts to get regional exclusivity for.
Discussing the first quarter of the year, Duffy says jewellery performed well over all.
“We were just a tick down year-on-year, but we think that the market was down quite significantly due to a combination of volume reductions and price reductions that are regrettably part of the market, and in which we did not participate,” Duffy explains, adding: “We were tick down, but we think we gained share.”
“We were up very nicely in luxury watches, which now represents 73% of our business; in Q4 it was 75%. The trends for this year are for this to carry on, other than in jewellery where we have had very positive recent months.”