Sale of flagship store keeps shine on Asprey

Royal jeweller Asprey would have fallen into the red last year if it had not sold its flagship London store. 

The brand, which has carried a Royal warrant since 1862, saw turnover crash from £20m to just £6m during the pandemic. 

However, it recorded an £8.5m profit thanks to the sale of its landmark New Bond Street outlet. 

The accounts show that Asprey London, which has moved to nearby Bruton Street, made a profit of nearly £14m selling the leasehold. 

Without this move, which will also mean a 40 per cent saving in its rental costs, it would have recorded a loss for 2021. Asprey London has had mixed results in recent years despite being favoured by a succession of high profile Royals and celebrities, including actor Keira Knightley. 

An Asprey spokesman said yesterday that the company had opened two stores in the US, launched a digital studio, reopened its manufacturing workshops, and struck new commercial partnerships. 

He said the company is ‘financially healthy’ and on ‘a growth path’.