Shame on the other multiples for not standing with F Hinds

Outside of the trade associations (which are often referred to pejoratively inside Westminster as ‘special interest’ groups), there are only a few other ways an industry can lobby for itself, and one is for the biggest players to start shouting.

That is why it is almost beyond comprehension that F Hinds is the only major jewellery retailer in the UK to be a signatory of the open letter demanding an overhaul of business rates, published in the Daily Telegraph this week. There were over 100 signatories on that letter: why on earth were Goldsmiths, Beaverbrooks and the two Signet brands – Ernest Jones and H Samuel – not in on the act?

Goldsmiths press/marketing team were (somewhat perplexingly) “not accepting” incoming calls this morning; Signet said that they were unable to comment on account of being a stock-market listed company (although one suspects other public companies like, say, Tesco would not get away with using that one).

Whatever the reasons, they are not really reasons. It is next to impossible to get your voice heard by government unless you are a very large business, a political party donor, or an industry baron in media, oil or finance. To that end, this was a rare opportunity to make a noise alongside everyone else on the high street for a policy change that would make life easier for the bricks-and-mortar collective.

At best (and this seems a little fanciful), they did not know the letter was being written. At worst, and more likely, they decided not to sign it. The only possible justification I can conceive of is that they wanted to avoid being seen as ‘political’.  But if you cannot be political about issues that really affect you, what is the point of being in a democracy at all?

So hats off to F Hinds for being literally the only voice for its industry on that letter. Jewellery has had a torrid time in recent years with pressure from all sides, and standing up next to the likes of Sainsbury’s, New Look, Fitness First and Homebase draws much-needed attention to this relatively small sector.

Shame on the others for evidently being hamstrung by corporate inertia.

Update: The British Retail Consortium has requested a link be posted where retailers can support the motion: http://www.brc.org.uk/reformrates/showyoursupport/