Day: 11 August 2026

Chopard’s UK arm has reported a 7% decline in sales, with revenue dropping from £27.1 million to £25.2 million over the past year. Operating losses deepened to £198,661, as the luxury brand grapples with widening financial challenges. The number of its boutiques in the UK has also decreased, reflecting a strategic shift amid a competitive market. Despite these setbacks, Chopard continues to thrive globally with a diverse portfolio that heavily emphasizes high jewellery and premium watches.

Fears Watch Company has opened a bespoke in-house workshop in Bristol, designed to enhance efficiency and craftsmanship for the historic British watchmaker. Scheduled to begin assembly in late 2026 with a single watchmaker, this development aligns with the brand’s commitment to quality as it celebrates its 10th anniversary under the revival of Nicholas Bowman-Scargill. As part of a growing trend among British watchmakers to prioritize in-house manufacturing, Fears aims to deepen its connection to traditional watchmaking while preserving the legacy of its 180 years of history.

UK retail sales showed a 1.3% year-on-year increase in July, with clothing sales rising as shoppers sought affordable summer essentials. However, non-food sales dipped by 0.7%, reflecting changing shopping habits and the ongoing pressures of higher living costs. While consumer confidence has improved slightly, budget sensitivity remains prevalent, and retailers are urged to address rising operational challenges. The British Retail Consortium warns that household finances are still strained, complicating the retail landscape as the year progresses.

Harvey Nichols, the prestigious UK department store, faces potential collapse without a rescue deal as it seeks a buyer amidst financial turmoil. Owner Dickson Poon has put the iconic brand on the market, highlighting the urgent need for significant restructuring to ensure future survival. Sports Direct founder Mike Ashley is currently positioned as a frontrunner for acquisition, describing the retailer as being in a “death spiral.” Despite challenges, experts suggest the Knightsbridge flagship may remain under new ownership, although the outlook for other locations appears grim as the industry grapples with shifting market demands.