Family-owned jewellery business Beaverbrooks shines in centenary year

Family-owned jewellery business Beaverbrooks continues to shine – a century after it first opened its doors to customers.

The Lytham St Annes-headquartered business was established in 1919 and today operates 71 stores across the UK.

Current chairman Mark Adlestone has in his office a family tree which goes right back to his great grandfather, who arrived in Britain from Russia in the 1880s.

And everyone who works at Beaverbrooks is made aware of that heritage and history.

The business has bucked the trend of poorly performing high street retailers by racking up five consecutive years of growth in its centenary year. Revenues hit £127.4m, compared with £123.8m the previous year.

However, the operating profit of £12.4m dropped from £13.6m a year ago, and the gross profit margin fell from 17.3 per cent in 2018 to 16.4 per cent.

The business say that is a result of the development of a subsidiary company, increased investment in employees, and new stock lines in preparation for the 100th anniversary.

There is more to the business than jewellery sales. As part of its mission to ‘enrich lives,’ Beaverbrooks donates 20 per cent of retained profits to charity and has this year donated £1.265m.
And since 2000 the company has donated over £14m to more than 750 charities.

The ethos and commitment to helping is not just about fundraising, it is about becoming truly involved. People working for the business are encouraged to become active in good causes – and get paid time off every year to take part in charity work in their community.

Beaverbrooks also received the Diamond Award from the HM Government & Institute for Fundraising for its payroll giving scheme.

It’s the eighth consecutive year of recognition for the company’s commitment to payroll giving and 46 per cent of its people were involved, compared to the national average of seven per cent.

During the period they gave £55,712 through the scheme. The net donation is 100 per cent matched by the company, resulting in total donations of £97,449.

Adlestone, who was appointed High Sheriff of Greater Manchester in May, said: “We’ve just had the five most profitable years in our history.

“However, success at Beaverbrooks is not only measured in financial terms. A strong commitment to the learning and development of all our people, an open and honest company culture and commitment to the wider community in which we work, are all borne out in the many accolades awarded to the company during this period.

“As we celebrate our centenary in 2019, we are excited by what the future holds.”

Managing director Anna Blackburn, who joined the business as a graduate trainee, added: “The jewellery market is highly competitive, but we firmly believe that the experience of coming into a high street store adds value to our customers.

“We have continued to invest in our people to ensure our customers have the best shopping experience at Beaverbrooks.”