Laings’ has a reported a 5% improve in turnover to £63.3m for the 12 months ended 31 Could 2023.
Moreover, the retailer posted a revenue earlier than tax of £3.7m for the interval which it said can be reinvested again into the enterprise.
The constructive financials come following a programme of funding in bodily shops and workshops.
The corporate invested in its showroom on Buchanan Avenue in Glasgow which opened Spring 2023.
It additionally invested in transferring its Southampton showroom to an even bigger area which opened late final 12 months.
Over the approaching 12 months, Laings will progress the roll out of its programme of funding throughout all 4 cities through which it’s primarily based, Cardiff, Edinburgh, Glasgow, Southampton.
Plans embrace the opening of the brand new multi-floored flagship showroom in Rowan Home, Glasgow, a brand new TAG Heuer mono-brand showroom in Edinburgh and the growth and improvement of its George Avenue showroom into 2025.
Joe Walsh, CEO of Laings, stated: “This has been the primary 12 months since 2020 that we’ve not felt any direct results financially from the pandemic. As luxurious jewellers, we proceed to deal with the significance of a bricks and mortar presence for a number of causes.
“Showrooms permit our shoppers to see and really feel every particular person piece, steeping themselves within the wealthy and conventional historical past and experience of our enterprise and that of our prestigious companions.
He added: “It is important that we proceed to speculate for the long run, making our bodily property as attractive and interesting as potential. Our on-line expertise has additionally improved this 12 months with our e-commerce workforce rebuilding and relaunching our web site, transferring our luxurious showroom providing to the convenience of screens. This has allowed shoppers to make purchases on-line extra simply after they can not come to see us in retailer.
“This continues to be a really thrilling interval of development for Laings and we’re enthusiastic about what lies forward for the approaching 12 months. Our turnover has continued to extend, which is a constructive reflection of the choice we made to focus our funding in our showroom property and shopper providing throughout the UK.”
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