Retailers

Michael Spiers unveils new Plymouth showroom

The company received a seven-figure funding package from Santander UK to support the move

South West luxury jewellery business, Michael Spiers, is opening a new showroom near Plymouth’s Drake Circus Shopping Centre on 14 May 2022.

The new showroom, located on No.2 Cornwall Street, is on the site of the former Americano coffee house, a short distance from its former store, where it had been based since 1969.

Michael Spiers received a seven-figure funding package from Santander UK to support the move, enabling much of the store’s fit-out and refurbishment.

Over the past several years, Santander has supported the jewellers with working capital and funding toward a refurbishment of its Truro showroom as well as day-to-day banking.

Michael Spiers is a second-generation family-run business with showrooms in Truro, Taunton and Exeter, as well as Plymouth. The company was established in 1957 and employs a team of 50 across its four stores. 

Additionally, Michael Spiers said it has plans to grow sales through its website, which launched during the pandemic to diversify beyond in-store sales. It is also working to increase sales of its own-brand jewellery.

Adam Spiers, managing director of Michael Spiers, said: “We thank Santander UK for its support over the years and for our new Plymouth showroom. As we continue to evolve our customer experience, in line with our exciting growth plans, we are bringing innovation to every area of the business, while never forgetting the history of Michael Spiers.” 

Steve Tyers, relationship director at Santander UK, added: “We have worked in partnership with Michael Spiers to support the family-run business’ growth over the past several years and we are delighted to provide it with funding toward its Plymouth showroom relocation. The new showroom marks an exciting new chapter for Michael Spiers.”

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