Economy
The economy has a direct influence on the UK jewellery trade, affecting consumer spending, material costs, and business confidence across the sector. For jewellers, manufacturers, and suppliers, staying informed on economic trends is vital to planning and resilience. Jewellery Focus provides expert coverage of economic developments impacting the trade, including inflation, interest rates, consumer confidence, and supply chain challenges. Our reporting helps jewellery professionals understand the wider market forces shaping their business environment.
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Aug- 2023 -8 AugustRetailers
Pandora sees profits fall amid increased costs
Pandora has reported that its overall profits declined to £44.1m in FY22, down from £57.6m in FY21, according to the latest accounts filed with Companies House for the year ended 31 December 2022. Overall profits decreased as a result of rising costs which increased to £268m in FY22 (2021: £240.1m).…
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8 AugustEconomy
Retail sales growth slows in July amid heavy rain
The UK’s total retail sales increased by 1.5% in the four weeks to 29 July, against the 2.3% growth experienced in the same month last year. This was below the three-month average growth of 3.5% and the 12-month average growth of 3.9%, according to BRC data. This lacklustre growth in…
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3 AugustNews
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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Jul- 2023 -25 JulyRetailers
Monica Vinader receives Sustainability Award from HM The Queen
Jeweller Monica Vinader has received the 2022 Queen’s Award for Enterprise in Sustainable Development from Her Majesty The Queen at the jeweller’s Holkham headquarters. Her Majesty then presented a commemorative crystal trophy, as well as The Queen’s Awards flag that the business can fly for the next five years. Founded…
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24 JulyDesigners
Charlotte Cornelius Jewellery achieves Butterfly Mark
Bespoke jewellery designer Charlotte Cornelius Jewellery in Portsmouth has achieved the Positive Luxury Butterfly Mark. Since 1998, Charlotte Cornelius Jewellery has used ethical and sustainable practices to create ‘Jewellery for Life’ under the creative and business leadership of its eponymous founder. The brand has also incorporated circular economy into…
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Jun- 2023 -27 JuneFeatures
Jessica Flinn on changes, challenges and trends in the jewellery industry
Can you tell me about yourself and the history of Jessica Flinn? I started Jessica Flinn Designers Limited straight out of university in 2010, so it has been 13 years now, which is absolutely bonkers. I initially started out making stainless steel and silver jewellery, and I would sell it…
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22 JuneNews
BoE raises interest rate to 15-year high
The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…
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May- 2023 -11 MayNews
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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Mar- 2023 -28 MarchDesigners
Faberge owner posts record revenues
Faberge owner Gemfields has posted record revenues of $341m (£279m), an increase of 32%, for the year ended 31 December 2022. The company also posted strong EBITDA growth of 25% up to $166m (£136m) and an EBITDA margin of 45%. Gemfields’ net profit was also up to $74m (£60m) compared…
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23 MarchNews
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month. The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to…
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