Argento reports 30% revenues hike after two decades trading

Northern Ireland based jeweller Argento has marked its 20th year in business with a 30% increase in revenues for last year and the promise of more jobs to come.
By The Newsroom
Published 23rd Mar 2017, 19:08 BST
Updated 25th Mar 2017, 12:10 BST
Argento founder Pete Boyle pictured outside the firms flagship Belfast storeArgento founder Pete Boyle pictured outside the firms flagship Belfast store
Argento founder Pete Boyle pictured outside the firms flagship Belfast store

Founded in 1997 by former market trader Pete Boyle, the business has grown steadily across the globe.

Argento Contemporary Jewellery marks two decades in business, during which time a great deal has changed.

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The annual accounts show that turnover rose by 32% from £33.2m to £43.8m.

The company has 581 staff which has increased by 29% from 2015.

From 2015-2016 the company opened five brand new stores, relocated/refurbished eight with a total group investment of £2.5m.

Last year saw a further five new stores and relocation of the final Argento store in Forestside to a much bigger unit.

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From 2016 the online business has been a key focus and turnover has increased by over 50%.

Argento.com is currently exporting 25% of total turnover to mainly Hong Kong, Japan, China and Macau with plans to continue to grow globally in 2017.

“In 2016 we finished the refurbishment of all Argento stores, this look promotes our Northern Irish heritage in a cool subtle way that has massively improved the in-store experience for our customers,” said Mr Boyle.

“In 2017 we are planning to build a brand new web fulfilment centre to facilitate our online and international growth and we look forward to bringing further jobs and investment to Belfast.”

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Argento Contemporary Jewellery Limited is now a wholly owned subsidiary of Denvir Holdings Ltd.

This holding company also includes Pyrrha Ltd which was purchased in 2013 as the corporate vehicle for the PANDORA branded stores.

The restructure in July 2015, saw five PANDORA stores transferred from Argento Contemporary Jewellery to Pyrrha Ltd.

Denvir Holdings now operates 51 stores and from July 2015 – June 2016 increased operating profits by 79% to £7.8m.

Related topics:Northern IrelandChina