Watch this space: UK jewellery chains put up for sale

 
William Turvill
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Gold necklaces, bracelets and rings are
Aurum has seen luxury watch sales surge 40 per cent since June (Source: Getty)

The owner of some of the UK’s best-known jewellery chains has put them up for sale.

Aurum Holdings, which is owned by US-based investment firm Apollo Global Management, has reportedly begun interviewing banks as it seeks to sell Goldsmiths, Mappin & Webb and Watches of Switzerland.

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Sky News reports that Aurum is pushing ahead with the sales after the UK’s Brexit vote and subsequent fall in the value of sterling prompted a surge in luxury watch sales.

Aurum has reportedly seen sales in this area increase by 40 per cent since June, with overseas shoppers making the most of the cheaper pound.

Read more: Jeweller Tiffany & Co polishes up a surprise rise in profit as sales slide

Bankers are expected to be appointed to handle the sale within weeks.

Aurum has been asked for comment.

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