Celebrity jeweller Theo Fennell fights back

Star quality: Danni Minogue
11 April 2012

Celebrity jeweller Theo Fennell today said the sparkle had returned to the business since its eponymous designer returned to the helm and added it was on route to "long-term profitability".

The firm which dressed Dannii Minogue in pink diamonds for the X Factor final, posted a £1 million pre-tax loss in the six months to the end of September but said its turnaround strategy, which centred on Fennell's return to the company, was already paying off.

Retail sales for October and November are up 38% on last year, while December sales crept slightly higher. The jeweller, which counts the Beckhams and Elton John among its customers, said Christmas sales were "very encouraging".

It has opened a new branch at the Crane hotel in Barbados and is lining up a new outlet in Moscow this month. Theo Fennell said it was also "exploring options" for a fundraiser next year.

Chairman Rupert Hambro said the board was "confident" that the first steps have been made to return the company to long-term profitability."

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