HAMILTON & Inches, the upmarket Edinburgh jeweller, has seen turnover and profits leap during a year that saw trading return to “a level of normality”.
The retailer, which has held a Royal Warrant for more than 120 years, booked pre-tax profits to £1.4 million for the year ended March 26, up from £236,153, accounts newly filed at Companies House show. That came as turnover surged by 57 per cent to £11.3 million.
The start of the period covered by the accounts saw Hamilton & Inches unveil its revamped showroom on Edinburgh’s George Street, following a £3 million investment. The Grade A listed building now features a new Rolex repair centre and further space dedicated to Patek Philippe.
Planning for the project began before the pandemic struck and progressed against a backdrop of Covid restrictions. The jeweller saw a dramatic rise in online sales following the launch of a new website in late 2020 and has seen the growth continue. Online sales grew by 110 per cent in the period covered by the accounts.
Chief executive Victoria Houghton, who was appointed to the role in 2019 having joined the board the previous year, said: “Following several years of disruption, the 21/22 financial year saw a level of normality return to trading.
“During the year, we unveiled the results of our £3m investment in the transformation of our Edinburgh city centre showroom which brought a contemporary feel to the retail floor, workshops and service areas while rejuvenating the original features of the beautiful Georgian building we call home. The renovated showroom has allowed us to elevate our luxury service offering and provide an unmatched customer journey in Edinburgh from start to finish.”
Ms Houghton added: “Whilst these efforts bring a fresh approach to many aspects of the business, there remains an unwavering commitment to preserve and nurture the heritage of our 156-year-old brand. This is achieved through our incredibly talented team of young craftspeople, who infuse a contemporary flare into collections whilst using traditional craft methods.
“Whilst there will undoubtedly continue to be challenges, we are confident and committed to ensuring that Hamilton & Inches continues to be a destination brand on the Scottish luxury landscape for many years to come.”
Hamilton & Inches is chaired by Peter Lederer, a former managing director and chairman of Gleneagles Hotels.