Aurum Holdings has exceeded Signet Jewelers as the biggest jewellery and watch retail group in the UK for the first time.
The retailer overtook Signet in 2016 with a sales total of £565m.
Signet Jewelers had enjoyed a period of steady growth over the past three years, with sales figures of £447m in 2014 (financial year ending 31 January 2015) and £489m last year.
But Aurum’s sales exceeded Signet despite tailing the American giant by over £114m, at £374m revenue, in the year ending 31 January 2015.
Signet, which owns H Samuel and Ernest Jones, stopped selling Rolex watches in 2013 whilst Aurum Holdings has steadily increased its Swiss timepiece portfolio in the past three years.
Financial results show that the company has seen a 36% increase in luxury watch sales over the last year.
Brian Duffy, CEO of Aurum Holdings, said: “London and Heathrow outperformed the rest of the UK although all regions were positive with some excellent growth levels achieved in the major shopping centres of Bullring, Trafford, Meadowhall, Bluewater [and so on]. Price increases do not seem to have deterred the UK consumer.”