Retailers
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Oct- 2020 -6 October
Watches of Switzerland raises guidance as sales surge
Watches of Switzerland has announced that revenue for the first 10 weeks of Q2 has been “stronger than expected” at £202.7m, up 20.2% in constant currency and 18.3% in reported terms against the prior year. The group also reported sales to date of £145.1m, up by 12.6% against the prior…
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Sep- 2020 -30 September
LVMH files countersuit against Tiffany & Co
LVMH has filed a countersuit against Tiffany & Co in the ongoing legal battle between the two companies. This follows Tiffany’s legal action against LVMH, after the Louis Vuitton owner pulled out of a merger deal citing ‘‘recent developments’’, including a request from the French Foregin Ministry to delay proceedings…
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25 September
Nova Silver launches QR code scheme
Nora Silver has launched a new scheme aimed at assisting people who want to support small businesses, yet who are anxious about waiting in queues during the pandemic. The Norwich-based jewellery boutique is asking customers to scan products’ QR codes on their smartphones, which will open the Nora Silver website.…
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24 September
Laings launches autumn campaign
Laings has announced the launch of its 2020 autumn campaign across UK stores and online. The latest campaign is “filled with the luxurious feel of the autumn months”, according to the retailer. The group added that the new campaign, which highlights diamond jewellery as well as complementing wristwatches, explores the…
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22 September
Watches of Switzerland unveils Knightsbridge Rolex showroom
Watches of Switzerland has announced the opening of a new Rolex showroom located in Knightsbridge. The new 1,377 sq. ft showroom is situated within the existing Watches of Switzerland flagship showroom on the Brompton Road. It comes as the group has celebrated a “close relationship” with Rolex since becoming an…
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22 September
Footfall rises despite ‘rule of six’
Footfall across all retail destinations in the UK has risen by 2.4% in the last week, despite the government’s new ‘rule of six’ social distancing measure, according to data from analytics company Springboard. High street retailers saw a footfall increase of 5.2%, while shopping centres and retail parks saw a…
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15 September
Unemployment rate rises to 4.1% in July
The rate of unemployment in the UK increased 0.2% to 4.1% in the two months to July 2020, according to the ONS. The UK economic inactivity rate was also estimated at a joint record low of 20.2%, 0.6 percentage points lower than the previous year and 0.3 percentage points lower…
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14 September
Covid-19 relief package saves family jewellers
Sinclairs, the family-run jewellers in Inverurie, has secured £125,000 from the Coronavirus Business Loan Scheme (CBLS) to support the firm as it navigates the financial impact of the pandemic. The business is headed by Ian and Debbie Sinclair, whose family has managed the jewellers for over 40 years. The financial…
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14 September
Tag Heuer partners with Beaverbrooks for new Leicester boutique
Luxury watchmaker Tag Heuer has opened a new boutique in partnership with jeweller Beaverbrooks in Leicester’s Highcross shopping centre on Friday (11 September). Tag Heuer said it aims for the 30.67sqm store to welcome customers in the “spirit of the brand” and features a contemporary design and its “iconic” red…
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11 September
LVMH plans counter lawsuit against Tiffany & Co
LVMH has announced it plans to file a counter lawsuit against Tiffany & Co after the collapse of a takeover deal. Tiffany & Co filed a lawsuit against the company after LVMH cancelled its proposed $16.2bn (£12.4bn) acquisition of the French luxury retailer earlier this week. The initial lawsuit was…
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