Boodles not for sale says chairman

HISTORIC North West jeweller Boodles will “never be sold” by the Wainwright family, its chairman has declared.

Speaking at a dinner at Manchester’s St James’s Club Nicholas Wainwright said despite high failure rates for family businesses, his family remains a strong unit, with enormous passion for the product.

“We love what we do – every so often we get a letter saying ‘so and so’ would like to buy you, but we’re not going to sell the business.”

Founded in Liverpool in 1798 Boodle & Dunthorne as it was then known was bought by the Wainwrights in 1910.

Until recently Nicholas Wainwright was joint managing director with his brother, Michael. The seventh generation is already involved in the business with Nicholas’ son Jody and nephew James Amos occupying senior roles.

The last 15 years has seen a major strategic shift away from being a general jeweller, selling watches, clocks and silver, to a high-end, desigh-led jewellery brand.

Mr Wainwright, who is also the company’s creative director, said: “We want to be a brand, we are proud to be British, our products are designed by our team in Liverpool and hand-made – we don’t mass produce anything.

“We have to compete with the biggest brands in the world, Bulgari, Cartier and Tiffany.”
 
He said the secret to £60m turnover Boodles success was to have focus on the product, act with integrity and to treat its 97 employees and suppliers well.

“Focus is essential, 10-15 years ago we decided to focus on what we are good at, and that was fine jewellery.

“As a family we all get on, we have to, it’s like a marriage. Our policy has been to limit the number of people actually involved in running the business – it makes it more simple.”

Boodles has nine stores, three in the North West, Liverpool, Manchester and Chester, five in London at the Savoy Hotel, New Bond Street, Sloane Street, The Royal Exchange and Harrods, and one in Dublin.

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