Theo Fennell sets sights on profit fuelled by China

JEWELLERY designer Theo Fennell has pledged to take his company back into the black, with China a main driver of sales.

In the 12 weeks to the end of June, like-for-like retail sales rose 15 per cent, the company said in an update.

That followed a dire Christmas in which the jeweller was hit by the snow. In March, Fennell reported a loss of £550,000 on flat sales of £12.5m. But yesterday the eponymous founder said a major meeting in China next week could help to turn the tide.

“Next week we have a very important trip to China and things are going on the right direction. Sales to the Middle East and China are strong and we are seeing that London custom is strong. People tend to want to buy something special, a one-off thing, rather than lots of bits. They buy one item but are very specific.”

He also said he was looking to open another store in the capital.