Jewellery retailer to expand internationally
Jewellery retailer Theo Fennell said it planned to push ahead with aggressive expansion, after revealing turnover rose 20 per cent to£19.4 million for the year to March.

Pre-tax profits jumped, with a seven-fold increase to£732,451, compared with£105,988 last year.

The retailer said it had achieved 'exceptional performances' at the flagship Fulham Road store, Harrods' fine jewellery room and at its store in London's Royal Exchange building

During this period, it has also opened stores in Dubai, Hong Kong and the Maldives and is set to launch in Moscow in July.

The company said it had seen a strong start to this year and was targeting aggressive overseas and UK expansion and looking at the 'correct strategic option' to expand the business.

The company also revealed that it is in ongoing talks about investment in the business. Chairman Richard Northcott said: 'As we reported in November, the group received an approach regarding a potentially significant investment in Theo Fennell. Since that time we have received other approaches from a number of interested parties with whom we are in discussion.'

Theo Fennell will also launch a fragrance in February next year, which it predicts will add significant licensing revenue.

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