High street jewellery giants struggle to sparkle Retail Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month. But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the [...]
Versace: UK sales slashed again as profit almost wiped out Retail Sales at the UK arm of fashion house Versace have been slashed by a fifth for a second consecutive year as the downturn in luxury spending continues. The division has reported a turnover of £15.2m for the 12 months to 31 March, 2025, new accounts filed with Companies House have revealed. The latest total is [...]
Why don’t London’s luxury hotels make any money? hospitality London is home to some of the most iconic and well-known luxury hotels in the world. The Savoy, the Ritz, The Dorchester and Claridge’s, to name just a few, are renowned the world over and have played host to the ultra wealth, celebrities and royalty. Also appearing in a string of popular films, London’s luxury [...]
The Savoy Hotel sheds jobs as losses widen October 13, 2025 Losses widened at The Savoy Hotel as it shed jobs during its latest financial year while a major renovation project started. The five-star London hotel has posted a pre-tax loss of £19.6m for 2024, having also lost £17.5m in 2023. The last time The Savoy Hotel made a pre-tax profit was the £5.9m it reported [...]
Porsche: UK revenue in £300m reverse as car sales slashed October 8, 2025 Revenue at the UK division of Porsche was cut by more than £300m in 2024 as it sold 4,000 fewer luxury cars. New accounts filed with Companies House have revealed the UK arm’s revenue fell from £1.92bn to £1.62bn during its latest financial year. Over the same period, its pre-tax profit also declined from £44.6m [...]
Claridge’s: Five-star London hotel falls into the red October 6, 2025 Claridge’s, the iconic five-star London hotel, has slipped into the red despite its revenue rising during its latest financial year, it has been revealed, amid major redevelopment work. For 2024, the hotel has posted a pre-tax loss of £5.4m, down from the £7.2m pre-tax profit it achieved in 2023. However, new accounts filed with Companies [...]
Luxury brands in sport: F1 leading the way, but for how long? October 5, 2025 Take one minute to watch some of the Formula 1 Singapore Grand Prix this weekend and you’ll struggle not to lock eyes with a luxury brand being splashed on an advertising hoarding or chassis panel. One year ago this month LVMH – parent company of the likes of Louis Vuitton, Dior, Moet & Chandon, Tiffany [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]
Pandora: UK profit slumps as sales slip after record high September 30, 2025 Profit at the UK arm of luxury jewellery brand Pandora has fallen significantly as its sales slipped back from a record high. The London-headquartered division has posted a pre-tax profit of £14.9m for 2024, new accounts filed with Companies House show. The latest total comes after Pandora achieved a pre-tax profit of £61.1m in 2023. [...]
The Ritz: Luxury London hotel makes fifth consecutive loss September 29, 2025 The Ritz hotel in London has made a loss for the fifth year in a row despite its turnover jumping in 2024, it has been revealed. The five-star hotel has reported a pre-tax loss of almost £3m for its latest financial year, down from the £10m loss it posted for 2023. The Ritz also made [...]