MONTH IN REVIEW
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FINANCIAL RESULTS
Beaverbrooks
operating profit
increases to
£13.7m
Operating profit before discretionary
payments at Beaverbrooks the
Jewellers increased to £13.7m during
the 53 weeks ended 3 March 2018, its
newly published accounts reveal.
The company’s annual report and
financial statements showed a £1.4m
operating profit increase from £12.3m
to £13.7m in the 2017/18 period. Annual
turnover also increased by 6.2% from
£119.2m to £126.5m (compared to prior
year 52 weeks).
Despite competitive trading
conditions during this 53-week
period, profit margins were
maintained with gross profit of
£21.9m. The 99-year-old family-owned
company attributed its performance
to “remaining focused on quality
diamonds, watches and jewellery, and
excellent customer service”.
Beaverbrooks also continued
with its programme of investment
during the period. This included the
continued refurbishment of key retail
stores and development of its website.
The company also continued to
invest significantly in its people with
specific product training and further
performance linked bonus structures
being implemented.
As part of its mission to “enrich
lives”, the company donates 20% of
retained profits to charity and this year
donated £1.11m to charity. Since the
year 2000, Beaverbrooks has donated
in excess of £12m to over 700 charities.
Beaverbrooks is also the UK’s
second biggest supporter of Payroll
Giving on the high street. 39% of its
employees were involved in Workplace
Giving at the year-end. This year
Beaverbrooks said it has increased
to 45%, for which it won the first ever
‘Diamond Quality Award’ in 2018 from
H M Government for Payroll Giving.
During the period Beaverbrooks
employees gave £42,765 (2017:
£29,069) through Payroll Giving.
December 2018 | jewelleryfocus.co.uk
AUCTIONS
Winston Pink
Legacy sold
for £38.5m at
Christie’s Geneva
The Winston Pink Legacy diamond
has been sold for €44,423,358
(£38.5m) at Christie’s November
Luxury auction in Geneva.
Registered bidders from 51
countries, across six continents,
participated in the ‘Magnificent Jewels’
sale. The Winston Pink legacy, the
largest and fancy vivid pink diamond
ever offered at auction by Christie’s,
realised a world auction record price
per carat for a pink diamond.
After five minutes of “spirited”
bidding, the diamond previously
belonging to the Oppenheimer family,
was acquired by the Harry Winston
collection.
Rahul Kadakia, Christie’s
international head of jewellery, said:
“This exceptional diamond captured
the imagination of international
collectors across the globe, with over
30,000 people visiting Christie’s sale
previews to see this remarkable
stone. It has taken its rightful place
among the world’s greatest diamonds,
and setting a world auction record
per carat.”
Art adviser Joseph Friedman,
representing the vendor of The Pink
Legacy, added: “My client is extremely
pleased with the result and Christie’s
expert handling of every aspect of
the auction. She is especially pleased
that so many people were able to
view the diamond when it travelled
on exhibition to London, Hong Kong,
and New York, ahead of the auction
in Geneva.”
Nayla Hayek, president and CEO,
Swatch Group/ Harry Winston said:
“We are proud to continue in the
Winston tradition of acquiring the
finest gems in the world and tonight
The Winston Pink Legacy joins our
incredible legacy collection, which
began with the acquisition of the 101
carat, D Flawless, Winston Legacy
diamond at Christie’s in 2013.”
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STAT OF
THE MONTH
£6.6m
That’s the total
amount achieved at
Christie’s London
‘Important Jewels’
auction
JEWELLERY COLLECTIONS
Raw Pearls
celebrates
diamond and
pearl range
success with
exclusive offer
Raw Pearls is celebrating the success
of its new diamond and pearl range by
launching an upcoming exclusive offer
for its customers to mark the occasion.
The group will be offering its
customers a 10% discount on any
order from its diamond and pearl
collection, which will run from the end
of November and into December.
The group’s diamond and pearl
pieces are available set on 18ct white or
yellow gold and many are available as
earring and pendant sets. Trade prices
range from £51 to £800 (ex VAT).
According to the jewellers one of the
most popular earring designs in the
range features a pearl sitting in a wave
of sparkling diamond, but the choices
from the collection also include “simple
and petite pieces to glamourous
showstoppers” like the natural coloured
nucleated 14mm cultured river pearl
sitting under a pave diamond bale.
You can contact Raw Pearls about
their collections or this offer by
emailing [email protected] or by
heading over to their website www.
rawpearls.com.
JEWELLERY FOCUS
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