Thursday, 26th May 2005 (4517 views)

Yorkshire jeweller Abbeycrest has reported the shift of production to another country will offer it savings of £1 million a year.

The company recently reported a drop in profits caused by a business dispute, but is optimistic about future business.

Gold jewellery for the company is now being produced in Thailand, which the firm claims will boost the business in the longer term.

Chairman, Michael Lever, told the Yorkshire Post: "The group's major market remains in the UK and the difficulties experienced by many retailers since Christmas have been well documented.

"However, Abbeycrest will imminently be at the end of a two-year restructuring exercise. The group now stands able to begin to reap the benefits of volume manufacturing being performed in a low labour cost environment."

In addition a new state-of-the-art gem plant has been built next to the gold jewellery factory to help meet demand.

Abbeycrest's G&A subsidiary is also planning to trial a collection of fine jewellery with a major UK store chain in the run up to Christmas.

 

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