Luxury jewellery retailer Laings has been named one of the fastest-growing UK companies for profits growth by The Sunday Times.
The jewellers featured in the 21st annual Sunday Times Profit Track as one of Britain’s private companies with the fastest-growing profits over the last three years.
It ranked at number 55 on the profit track after its profits rose from £1.1m in 2016 to £4.1m last year. The growth followed the 2017 acquisition of Laing the jeweller, which had split from the business 12 years prior.
Laings said it was “delighted” to be recognised after its first full year of trading under a single identity and national brand.
Joe Walsh, CEO of Laings, said: “I am delighted that the Sunday Times Profit Track has recognised our business and the growth and journey that we have been on for the past three years.
“We have brought all companies under one brand, consolidated and streamlined the watch and jewellery offering while continuing to invest in both people and infrastructure.”
He added: “Delivering such strong growth during the restructuring process is a testament to our team. The current economic environment has tested all businesses, large and small.
“I’m proud of the team we have here at Laings, and we have worked tirelessly to establish an excellent grounding and feel prepared to weather whatever we may face.”
The company now plans to enhance its service department, building on its current offering of repairs and bespoke design, while also expanding its existing retail locations.