Aurum Holdings was the biggest jewellery and watch retail group in the UK last year, surpassing Signet Jewelers for the very first time.
Signet Jewelers has been growing steadily for the past three years, with group sales rising from £447 million in 2014 (FY 2015 ending January 31 2015) to £489 million last year.
However, over the same period growth at Aurum Holdings has been steeper; with group sales soaring from £374 million in 2014 (FY 2015 ending January 31 2015) to £565 million last year.
The impact of the groups’ respective watch businesses appears to be the key difference.
According to Aurum Holdings chief executive officer, Brian Duffy, the latest financial results show a 36% rise in luxury watch sales in the last financial year.
In the UK Aurum Holdings operates Goldsmiths, Watches of Switzerland, Mappin & Webb, Watch Shop and the Watch Lab, while Signet Jewelers owns H.Samuel and Ernest Jones.