Leicester jewellery group mulls £600m float

Leicester jewellery firm Aurum is planning to float in a move which could value the firm at £600m, according to reports.

Sky News says that the firm’s owners, Apollo Global Management, has appointed a panel of investment banks with a view to floating on either the London or Zurich markets next year.

Aurum leads the way in luxury watch retail in the UK, with a 36.4% share of the market last year. It recently expanded into the US market with the acquisition of Mayors Jewelers in a deal worth £81m.

Aurum Holdings owns Mappin & Webb, Watches of Switzerland, Goldsmiths and Watchshop in the UK. The firm’s turnover soared by 23% to £565m last year, making it the UK’s largest jewellery retailer.