Orkney company Ortak, one of the UK’s leading designers and manufacturers of gold and silver jewellery, has announced more expansion is on the way.
The firm is to open two new stores in Scotland: at Glasgow’s Silverburn next month and at the Elements in Livingston in October.
The new stores will take Ortak’s retail portfolio to 14 and shop employees to 90.
It has also announced a 9.8% increase in store sales from January to July, pushing retail turnover up to £3.15million.
Group profits this financial year are also expected to be up from 2007’s pre-tax figure of £224,000.
Ortak retail director Yvonne Carr described market conditions as one of the most challenging retail environments in Ortak’s 41-year history, but she cited its model of high-street retail sales coupled with in-house design and manufacturing as the main reason for growth.
Mrs Carr added: “We are always one step ahead of the competition when it comes to current trends, as we design and create our products from our manufacturing base in Orkney, which allows us to respond efficiently to what our customers are looking for.
“Our outlook is extremely buoyant and the two new stores will further broaden our customer reach. The Elements store will be our first in mid-central Scotland and Silverburn will extend our already-strong presence in Glasgow.
“The jewellery industry in general is faring well in comparison to other retail sectors and we’re confident that this will continue. Largely a gift item, jewellery is weathering the current storm due to the importance of special occasions and we’ve noticed a strong increase in self-purchasing as, despite the current climate, customers continue to enjoy personal indulgences.”
Fiona Moriarty, director of the Scottish Retail Consortium, said: “Ortak is bucking all trends when it comes to retail growth, with every high-street sector recording tougher times as the credit crunch bites. Ortak is a quintessential Scottish company which is flying the flag for retail not only in Scotland but also at a UK level, and with strong growth plans already in place its future looks ever brighter.”
In addition to the company’s 10 retail outlets in Scotland, two in the north of England and an online presence, a core part of Ortak’s business consists of its design and manufacturing service employed by high-street retailers.
Ortak is one of the largest employers in Orkney, with 70 staff based at the manufacturing premises which also house a visitor centre.