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From Place North West:
Luxury Swiss watch brand to open on Manchester’s King Street
26 April 2024 14:35
Dan Whelan
Comments (11)
Audemars Piguet has become the latest brand to commit to the city’s high-end retail enclave, taking the 13,000 sq ft former Jack Wills store.
Swiss firm Audemars Piguet has earmarked its Manchester store for its AP House concept, intended to offer an elevated retail experience for shoppers by providing one-to-one appointments in bespoke private rooms.
There are AP House outlets across the globe in cities including London, New York, Barcelona, Tokyo, and Zurich.
The company announced its intention to open an AP House in Manchester last year but did not confirm where.
Audemars Piguet works closely with Watches of Switzerland Group, which has submitted plans for the store at 35 King Street.
The store, owned by DTZ Investors, has been largely empty since 2020 when Jack Wills vacated it, although there have been several pop-up concepts in the intervening years.
WOS plans to undertake “a high-quality refurbishment of the original Georgian property, bringing it back into use as a retail store based on a townhouse concept”, according to a planning statement prepared by Savills.
To learn more about the scheme, search for reference number 139243/LO/2024 on Manchester City Council’s planning portal
I'm not overfamiliar with the R&Q situation but they are a general insurer aren't they? LGEN exited general insurance about 10 years ago and given the competitiveness and lack of profits in that space in recent years I can't see them being to eager to go back in.
Sounds pretty good to me. Very complimentary business which expands the business in North American. It further strengthens the partnership with Nike and Adidas but increases the profile of the business in the retail model stopping them going direct to market as well.
Nice rise today on the back of the broker upgrade (Jefferies raises Beazley price target to 975 (915) pence - 'buy').
Sometimes it takes the market a while to figure things out. There are a lot of good opportunities out there at the moment which are attracting attention and money.
But that is the whole premise of investing; you believe that the market has undervalued the share so you have bought it and will (hopefully) sell it for a profit. Patience my friend, people will wake up and share will re-rate if the fundamentals remain the same. BEZ are coining it in at the moment and that won't go unnoticed for long.
The market makes will ensure it falls by the size of the divi on Ex-divi day, so approx 4.5% using the current share price.
After that, it's anyone's guess, but if the buyback continues to hoover up a lot of the shares from any sellers and inflation continues it's downward trajectory then we shouldn't go much lower (barring a pandemic/war/financial crisis etc)