EXCLUSIVE: Winsor Bishop on track for ‘record’ sales growth

Winsor Bishop Exterior-lr2

Norwich-based independent jeweller Winsor Bishop is on target to achieve the highest sales growth in its 185-year history, Jewellery Focus can reveal.

In the financial year to date (from 1 April to 31 December), the jeweller – which was victim of an armed robbery earlier this year – reported a total sales increase of 24%, with footfall and web traffic up 20% and 61% respectively for December alone, when compared with the previous year.

The company said that the hike in sales was driven by greater new watch sales, particularly Patek Philippe and Rolex, along with an uplift in diamond sales, both in terms of unit sales and average transaction values.

The growth in diamond sales was encouraged by “significant” growth in both diamond rings and diamond jewellery, which saw growth of 30% and 20%, respectively.

The firm said that it had a “very clear” strategy for 2015, and that channeling different methods has helped to deliver “excellent” results.

Speaking to Jewellery Focus, managing director Sophie Fulford said that in the company’s first two financial quarters it was running about 26% ahead of the previous year, before hitting a “brick wall” in the first six weeks of the Christmas trading period.

She added: “Our trading patterns then changed and we had three peaks. Black Friday, eight trading days before Christmas eve and Boxing Day saw trading change significantly. Boxing Day sales were brilliant and the best we’ve ever done – we finish that next week so it’s still ringing through.”

“We’re not looking at significant growth this year for Winsor Bishop, we have some other projects in the pipeline. We will be looking at some more efficient ways to do things and we now have much more clarity on what trigger dates are important in the calendar year.”

Meanwhile, Winsor Bishop – a member of The Houlden Group’s Jewellers of Excellence – also opened the doors of its first franchise store with Swarovski in October 2015.

The company said the Norwich-based store had an “excellent first quarter”, already performing above target.

 

[Source:- Jewelleryfocus]