Diamonds and Pearls relaunches as Victoria
Published: 15 September, 2010
New brand emerges from ashes of troubled accessories retailer
Diamonds and Pearls, the accessories retailer that suffered two pre-pack administrations, is looking to grow again and is rebranding itself as Victoria.
After the closure of 30 stores, leaving a 50-strong estate, the new company received significant new capital from a private equity investor and has seen a 30 per cent like for like sales uplift in the three months to September 2010.
On the back of this it is planning seven new openings before Christmas, with sites identified in Leeds, Cheltenham, Liverpool, Manchester, London, Bristol and Belfast. And newly-installed retail director Stuart Wheeler has a brief to find a further 20-30 UK store locations to open in 2011.
Following a significant new injection of capital, and the appointment of as Retail Director, accessories, jewellery and gift retailer Diamonds and Pearls has rebranded as Victoria and is preparing for an ambitious new chapter of growth in the final quarter of 2010 and throughout 2011.
Wheeler commented: “The outlook for Victoria is an optimistic one. Our strategy of rebranding and growth will make the business more robust – repositioning to appeal to a wider market and offering a shopping experience that exceeds expectations.
“From a product perspective, the brand remains overwhelmingly committed to choice and affordability – offering diverse trend-led and timeless ranges with proven commercial strength.”
