Keeping it in the Family
Different from the beginning, the Boodles story began in 1798 and has since been steered by six generations of the same family for the past 226 years. Here, we spend some time with company Chairman Michael Wainwright to speak about the continuing evolution of the business and how Boodles keeps innovating well into its third century of operation.
While the Boodles background is a story about a fine jewellery company, it is also a story about people exhibiting a passion for jewellery, overcoming adversity and fulfilling long held ambitions to take the business from its roots to the blossoming international reputation it has today.
Operating an exclusive portfolio of ten stores, nine in the UK across Chester, Leeds, Liverpool, London and Manchester, along with one in Dublin, Boodles want to maintain their portfolio premise of remaining exclusive as well as inclusive.
Half of their store fleet lies in London, including their Bond Street shop, which the Chairman feels is a key location for them as it is situated on one of the three principal shopping streets for jewellery in the world, along with Place Vendome in Paris and Madison Avenue in New York.
Their most recent opening was in Leeds at Victoria Quarter in 2021 and this site has just more than doubled its trading space, from 1,200sq ft to 2,700sq ft. The additional space will offer not just an increased selling area, but also a new entertainment room, tying perfectly into the company’s recent focus on the importance of client entertainment.
This added entertainment space, known as The Rose Garden Suite, is located on the second floor and features a beautiful palette of dusky rosebud pinks and sage greens, inspired by the Yorkshire countryside. The suite maintains the distinctive Boodles brand aesthetics while offering an exclusive setting for hosting highly personal experiences, including private dinners curated by renowned chefs, or champagne and canape evenings.
“We sell very valuable, premium products and you cannot do that on just fun alone… you must have integrity to sell the best.”
“Since I last spoke to you, we are now fishing in overseas ponds far more,” explains Michael Wainwirght, Chairman of Boodles. “We are now hosting major pop-up events in locations such as New York in the US, Quinta de Lago in Portugal, Monaco and Doha in Qatar. Our customer base is still heavily British, but we are making strides to change this and give the brand a name in international markets.”
The core way the business is looking to grow and evolve is through the implementation of events, whether their own events or sponsorship of others. Examples of the latter are their sponsorship of the Cheltenham Gold Cup, the Chelsea Flower Show, the Royal Ballet and the Salon Privé.
“Sponsoring these events allows the Boodles name to be more recognised in the UK and on the global stage, but we also use them as entertaining vehicles for our VIP customers. It allows them a gorgeous day out, with Boodles at the heart of it and it also allows us a rare commodity, time with our customers. Any company can advertise to their heart’s content, but there is nothing like word of mouth and these events provide an excellent opportunity all-round. This is now being reflected in our stores, such as the recent expansion in Leeds,” comments Wainwright.
In terms of its lifespan, social media has only existed for a marginal period in the history of Boodles, but it is something they have fully embraced as it continues to maintain its niche market position and looks to grow it.
Operating in the high-end jewellery market, Wainwright explains that Instagram offers Boodles the best medium to portray their brand story and products, as the platform allows them the opportunity to market their pieces through exquisite content and beautiful films.
The topic of sustainability is not a new one, but it is an area that Boodles takes incredibly seriously and for a jewellery company, they embraced it very early on. The gold they use all comes from a Single Mine Origin, meaning the entire process is controlled, starting from production at the mine, through the smelting and refining processes to delivery of the gold at the Boodles workshops. When it comes to diamonds, Boodles has been sourcing directly from specific mines, including the renowned Cullinan Mine in South Africa, for several years. Their “Peace of Mined” collection is crafted around the idea of complete transparency, enabling customers to know exactly where their diamond came from – from the moment it is unearthed to the moment it arrives in a Boodles showroom.
The ethos of the company is that of family and enjoyment as they try to make customer interactions fun, slightly quirky, or whimsical. However Wainwright feels there is a far more serious one that is important for their business, which is integrity.
“We sell very valuable, premium products and you cannot do that on just fun alone. Of course this is important as you must offer an experience in today’s retail world, but you must have integrity to sell the best,” Wainwright highlights.
As he looks to the future, the Chairman feels that while there are many challenges they continue to face, history has shown that despite world events or market conditions, there is a portion of people who will continue to buy jewellery, because they love it.
“As we look to expand our name internationally, it has become more apparent to me than ever how important our staff is and the quality that they possess. It is they who will build the brand, whether it is customer-facing staff or people in non-sales roles, moving forward and I look forward to seeing what they achieve in the years to come,” Wainwright concludes.
