Iconic Liverpool jewellery brand David M Robinson sees annual sales rise 6% to £58.6m amid an ‘increased appetite for luxury goods’ and new store openings. Tony McDonough reports
David M Robinson jewellery store in Liverpool ONE
One of Liverpool’s best-known jewellery brands David M Robinson (DMR) is reporting a 6% rise in annual sales amid an “increased appetite for luxury goods”.
In its annual accounts for the 12 months to March 31, 2024, DMR says this growing demand, along with new store openings in Liverpool and elsewhere, had seen sales hit £58.6m.
Pre-tax profits were down slightly from £5.7m to £5.12m. DMR said investment into new showrooms and existing ones had led to increases in both rent and depreciation.
David Robinson trained as an apprentice goldsmith for a jewellery repair business on Liverpool’s Hanover Street in 1962. He gained his qualifications at night school and opened his first DMR jewellery store in South John Street in 1969.
He remains the sole shareholder of the business. However, the day to day operations are run by his son, John Robinson, who is the managing director.
DMR’s flagship Liverpool store is in South John Street in Liverpool ONE with a watch boutique, operated in partnership with OMEGA, on the same street.
In December 2023 it opened a third outlet, also in South John Street, in partnership with Swiss watch brand, TAG Heuer. This 3,600 sq ft store marks the first partnership of its kind for TAG Heuer and DMR in the city and the largest TAG Heuer boutique in the UK.
There are two DMR outlets in Manchester city centre, one in Altrincham and two in London, one at Canary Wharf and in September 2023 it opened a DMR Boutique at the new Peninsular Hotel in Belgravia, London.
During the financial year DMR relocated its Canary Wharf shop and carried out a refurbishment of the Altrincham store in spring 2024.
Despite its expansion DMR remains fully committed to its original Liverpool home. In an interview with WatchPro in April 2023 John Robinson said regional cities had “upped their game” when it came to the high-end retail offer.
TAG Heuer store at Liverpool ONE which opened in December 2023
He added: “I think the level of service in regional cities in the UK warrants further investment. The luxury sector is really important in any city.
We can invite people into Liverpool One for example and sometimes we put them up in a hotel for the night or send a car for them.
“Before you know it, the restaurants get a little bit busier and then they want to watch the football or visit the museums and all sorts of things can come out of that visit.”
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According to the accounts DMR employed 103 people during its fiscal year. Directors’ remuneration, including salaries and pensions, totalled £846,200. The highest paid director received £413,194 and dividends for the year totalled £757,000.
Writing in the report, John Robinson said: “The directors believe that due to the strong cash position and strong relationships with suppliers, the group has traded successfully during the year and continues to do so post year end.”
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