Canadian jeweller Birks enters the U.K. market

Canadian jeweller Birks celebrated its entry into the United Kingdom this week with a cocktail soirée at London's Canada House, hosted by President and CEO Jean-Christophe Bédos.
 
Canadian jeweller Birks enters the U.K. market. - Facebook: Birks

In August, Birks Group signed a definitive agreement to sell its subsidiary, Mayor's Jewelers, Inc. ("Mayors"), to Aurum Holdings Ltd. ("Aurum"), the largest fine watch and jewelry retailer in the U.K.
 
The deal valued at approximately $104.6 million, also included a 5-year distribution agreement with Aurum to sell Birks fine jewelry in the U.K. at Mappin & Webb, Goldsmiths stores and on their e-commerce sites. 
 
"It is with great pride that we celebrate our entry into the U.K. market this week," said Jean-Christophe Bédos, in a news statement. "We are delivering on our strategic objective to grow the Birks brand into a global reference and continue to invest in its development."
 
"Birks Collections were well received by guests and members of the press at our launch this week," added Eva Hartling, Vice President and Chief Marketing Officer, Birks Group. "We look forward to continuing to introduce fresh collections, inspired by Birks' Canadian heritage, to customers across the U.K.”
 
Proceeds from the transaction will also be used by Birks to invest in its Canadian flagship stores and new store concepts, as well as in its high-growth Birks brand wholesaling activities and e-commerce, as part of the Company's omni-channel plan. 
 
The Birks brand collections of fine jewellery is now offered in 12 locations across the U.K., at various Mappin & Webb and Goldsmiths locations as well as through the two banners' e-commerce sites.
 
Birks reported net sales of $286.9 million for fiscal 2017, up $1.1 million compared to the same period last year.
 

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