MONTH IN REVIEW
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ACQUISITION
London investors
buy Breitling
London-based private equity group
CVC Capital Partners has bought
a controlling stake in Breitling for a
reported €800m (£677m).
Breitling’s CEO Théodore Schneider
said the deal will leave CVC with an
80% stake, and Breitling will retain the
remaining 20% of the group.
“I am convinced CVC is the right
partner to elevate Breitling to the next
level,” he said. “CVC’s expertise, track-
record and international network will
help unlock Breitling’s full potential.”
Alexander Dibelius, managing
partner and head of Germany at CVC,
added: “Breitling has a proud heritage,
high brand awareness, and enjoys an
excellent reputation as one of the finest
watchmakers in the world. We very
much look forward to working with
Théodore Schneider as we embark on
Breitling’s next chapter of growth.”
Daniel Pindur, senior managing
director at CVC, added: “Using our
network and expertise, CVC will work
to make this global, iconic brand even
more renowned and help shape the
future of one of Switzerland’s last
independent watch manufacturers.
“Specifically, we see significant
growth potential for Breitling in both
existing and new geographies by
driving the digitisation of the marketing
and distribution channels in the
company, helping to enrich the product
and customer experience.”
June 2017 | jewelleryfocus.co.uk
INDUSTRY STATISTICS
Gold demand
drops by 18%
The global gold demand in Q1 of 2017
has dropped by 18% when compared
to last year, according to the World
Gold Council’s latest Gold Demand
Trends report.
While inflows into exchange traded
funds (ETFs) were solid, the demand
couldn’t match 2016’s “exceptionally
high” Q1. European-listed products
were the most popular with Germany
and the UK leading ETFs inflows.
Jewellery demand remained stable,
up by 1% on last year’s Q1.
Alistair Hewitt, head of market
intelligence at the World Gold
Council, said: “Demand is down year-
on-year, but that is largely because
Q1 last year was exceptionally high.
“Although we did not see the
record-breaking surges in ETF inflows
experienced in Q1 2016, we have seen
good inflows nonetheless this quarter,
with strong interest from European
investors ahead of the Dutch and
French elections.
“Retail investment demand is
strong too, up 9% year-on-year with
demand worth over $11bn (£8.5bn) in
Q1. China led the way with bar and
coin demand surging 30%, breaching
100t for only the fourth time on
record, fuelled by concerns over
potential currency weakness and a
frothy property market.
“Elsewhere t he picture was less
rosy: central bank demand was down
and jewellery demand is still in the
doldrums, although there are signs of
improvement, especially from India
where the gradual remonetisation
of the economy is supporting the
jewellery market.”
I am convinced CVC
is the right partner
to elevate Breitling to
the next level
Breitling’s CEO Théodore Schneider
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Hallmarking
in April fell
13.2%
to 686,039 items
(compared with the
previous April)
CLOSURE
High business
rates force
award-winning
jeweller to close
An award-winning jeweller has been
forced to close his Southport store
due to high business rates.
Peter Jackson MBE, owner of Peter
Jackson the Jewellers, decided to shut
his store after 20 years in the area.
With other Peter Jackson stores in
Preston, Blackburn, Bury and Carlisle,
the Southport outlet is his only one
which does not make a profit.
Jackson explained his decision
to close the store saying he could
“no longer justify” paying high
business rates and rental space for
the property which sits opposite a
Sainsburys on Lord Street. He added
that trading had “become more
difficult”.
Jackson said: “I am very grateful
to the people of Southport for their
custom and support over the years
and I hope that we may have the
pleasure of welcoming many of our
loyal customers to our beautiful store
in St Georges Centre, Preston.
“I shall be very sorry to leave
Southport and I hope that the local
authority will realise that an urgent
effort to revitalise the town centre and
particularly Lord Street is needed.”
The Southport staff will be offered
jobs in other outlets under the brand
and a final closing date is yet to be
confirmed.
JEWELLERY FOCUS
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