UK Budget 2010

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Argyle Street, Boston, Lincolnshire

£64,950

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Jeweller aims to boost brand by expanding into city centre shop unit.

9th Jun 2010

Jeweller aims to boost brand by expanding into city centre shop unit.

SUCCESSFUL Lincoln jeweller John Greed is taking on a prominent shop unit in the city's High Street as part of a 1million business expansion.

Mr Greed, who has had a shop in Steep Hill since 1994, is now also taking on the former Mr Shoes unit on the corner of Cornhill. The new shop will sell branded jewellery such as Pandora bracelets and lines by designers such as Calvin Klein, Diesel, Storm and Hot Diamonds.

He will continue to design, make and sell his own produce from the uphill store, as well as running a worldwide distribution centre from offices in The Terrace, in Grantham Street.

The move will finally breathe new life into the shop unit, which has frequently been empty since Next left several years ago. Mr Greed said the expansion was driven by big-brand jewellery producers who wanted maximum exposure for their products.

He said: "The jewellery industry has traditionally been left behind by the rest of the fashion world when it comes to brand awareness. Many people would not know which companies are the big names in jewellery production. That tide is turning now. Brands like Pandora are being marketed exceptionally well. They wanted me to have a bigger store from which to sell their products."

Mr Greed said the two-storey shop would follow the format of a fashion department store. He said: "In the same way that clothes stores are divided into concessions, we will have parts of the store dedicated to specific brands. They will have their own stands and displays.

"The store is undergoing a compete refit and we are aiming to open on Friday, July 16. Mr Greed purchased the shop unit from a pension fund based in the south of England.

The deal was negotiated by Lincoln estate agents Pygott and Crone. Partner Will Downing said it was unusual for a unit in High Street to be offered for sale. He said: "Mr Greed approached us around four months ago and said he was looking to expand.
We initially looked at this with a view to letting it, but it transpired that the owners would consider selling. The shop had suffered a chequered history since Next left a few years ago. It's really good to see it taken on by a successful, Lincoln business."

Chief executive of the Lincoln Business Improvement Group, Matt Corrigan, said: "This is great example of a local business that has combined strong on-line sales with a High Street presence through the quality product they sell. It is great to see a local business that is able to compete with established national brands in the heart of the city centre."

To visit John Greed's Website CLICK HERE

Source - Lincolnshire Echo