Goldsmiths (retailer)

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Goldsmiths
Company type Subsidiary
Industry
Founded1892;133 years ago (1892) in Newcastle upon Tyne, United Kingdom
Headquarters Leicester, United Kingdom
Area served
 United Kingdom
Products Jewellery, Watches
Parent Watches of Switzerland Group Plc
Website goldsmiths.co.uk

Goldsmiths is a luxury jewellery retailer based in the United Kingdom.

Contents

History

The business was founded by Thomas Cooke as the Northern Goldsmiths Company in Blackett Street in Newcastle upon Tyne in 1892. [1] [2] [3]

After selling marine chronometers to the Admiralty during the First World War, [4] the company became the UK’s first appointed stockist of Rolex watches in 1919. [5]

The company acquired Reid & Sons, a business founded in the 18th century, in 1967. [6] It changed its name to The Goldsmiths Group in 1984. [7] In 1986, it was acquired by Oriflame, a Swedish cosmetic company who sold off the company's hotel division the following year. [8] A management buy out led by Jurek Piasecki took place in 1988 backed by Schroder Ventures. [9] The group was later listed on the London Stock Exchange. Piasecki led another management buyout in 1999, backed by Alchemy Partners, whose founder, Jon Moulton, had been the managing partner at Schroder Ventures. [10]

The company was acquired by Baugur Group in 2004. [11] In December 2006, Mappin & Webb and Watches of Switzerland were acquired, which were also owned by the Baugur Group. [12] Piasecki was ousted as chairman in 2007 while the company was Britain's second largest jewelers. [13] [11] Baugur became insolvent and went into administration in early 2009. In 2013, Goldsmiths was acquired by an investment fund affiliated with Apollo Global Management. [14] In 2018, the group was renamed the Watches of Switzerland Group, which was floated on the London Stock Exchange in 2019. [15]

Sport

Goldsmiths are a sponsor of the Leicester Tigers Rugby Football Club, sponsoring a stand within the Welford Road stadium [16] and the club's Player of the Month Award. [17]

References

  1. ↑ "Steel Rolco / Rolex retailed by Northern Goldsmiths Oyster circa 1935". Blackbough. Retrieved 8 October 2024.
  2. ↑ "English Electroplate Silver". The Silver Collection. Retrieved 8 October 2024.
  3. ↑ "Northern Goldsmiths". Northumbia.info. Retrieved 8 October 2024.
  4. ↑ "Newcastle's Northern Goldsmiths - the popular city-centre meeting place is 130 this year". The Chronicle. 18 December 2022. Retrieved 8 October 2024.
  5. ↑ "Watches of Switzerland and Rolex celebrate century together in the North East". Watchpro. 29 April 2019. Retrieved 8 October 2024.
  6. ↑ "Reid Family of Silversmiths". The Silver Collection. Retrieved 8 October 2024.
  7. ↑ "Companies House Profile" . Retrieved 11 July 2020.
  8. ↑ Curtis, Tessa (23 March 1988). "Oriflame seeks £43 million in Goldsmiths buyout". The Daily Telegraph . p. 26.
  9. ↑ Wood, Martin (19 March 1999). "Piasecki changes direction with Goldsmiths bid". The Birmingham Post . p. 23.
  10. ↑ "Goldsmiths turns its back on City investors". The Guardian. 19 March 1999. Retrieved 8 October 2024.
  11. 1 2 "Baugur to buy Goldsmiths shares from ousted boss". The Guardian. 14 October 2007. Retrieved 8 October 2024.
  12. ↑ The MW Group Limited Directors' Report and Consolidated Financial Statements. 28 January 2006. p. 22 – via Companies House.
  13. ↑ "Jurek Piasecki on building up Nuval". Watchpro. 14 May 2012. Retrieved 9 October 2024.
  14. ↑ Aurum Holdings Limited Report and Accounts. 3 February 2013. p. 3 – via Companies House.
  15. ↑ "Watches of Switzerland starts clock on London IPO plan". Evening Standard. 2 May 2019. Retrieved 2 September 2019.
  16. ↑ "The Stadium". Leicester Tigers. Archived from the original on 27 June 2015. Retrieved 1 July 2015.
  17. ↑ "Goldsmiths Player of the Month". Leicester Tigers. Archived from the original on 27 June 2015. Retrieved 1 July 2015.
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