Sponsored by Clientbook
Birks Sells Mayors to UK Company for $105M
Aurum Holdings Ltd. bought the Mayors chain of jewelry stores, which are located in Florida and Georgia.

Montreal--Birks Group Inc. has sold the Mayors chain of jewelry stores in Florida and Georgia to Aurum Holdings Ltd. in a deal valued at $104.6 million.
The sale gives Birks Group money to pay down debt and to invest in its Canadian stores and e-commerce sites, as well as continue to sink money into wholesaling the branded jewelry collections it sells at Birks.
Based in the United Kingdom, Aurum Holdings operates more than 130 watch and jewelry stores in the United Kingdom under the Watches of Switzerland, Goldsmiths, Mappin & Webb, Watchshop, The Watch Hut and The Watch Lab nameplates.
In acquiring Mayor’s Jewelers Inc., Aurum takes control of a chain of 16 stores in Florida and Georgia that operate as Mayors, and one Rolex store in Orlando.
Birks will continue to run the stores until the transaction closes, which is expected to happen in the fall.
As part of the deal, Birks entered into a five-year distribution agreement with Aurum to sell Birks fine jewelry brands, collections like the gold-focused “Muse Ribbon” and the philanthropy-focused “Bee Chic,” at 14 Mappin & Webb and Goldsmiths stores in the U.K. and on the stores’ e-commerce sites.
In addition, Mayors will continue to sell the Birks jewelry brands.
“Aurum is a strategic buyer committed to continuing investing in Mayors’ long-term growth, and with whom we share many synergies. This transaction is a significant step in our efforts to strengthen our balance sheet to better position the company for growth as well as long-term shareholder value,” Birks Group President and CEO Jean-Christophe Bédos said in a company news release announcing the transaction.
Aurum President Brian Duffy said: “We look forward to working with our new colleagues at Mayors and we are confident that together we will continue to develop the business in a positive way. This news follows our announcement to open a flagship Watches of Switzerland store in Hudson Yards (New York City) and confirms the ambition of our group to be an important part of the Swiss watch market in the U.S.A.”
Birks said it will use proceeds from the sale of the Mayors chain to invest in its flagship stores in Canada and new store concepts as well as the wholesaling of Birks-brand jewelry and e-commerce.
It also will be used to pay down debt.
In its most recent fiscal year ended March 26, Montreal-based Birks Group reported that same-store
Gross profit fell from $109.4 million (38.3 percent of sales) to $108.4 million (37.8 percent of net sales).
The Latest


It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.


The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Plans for dining out, booking vacations, and buying big-ticket items were down.

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.

The three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.

Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.

The one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.

The retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.

Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.

The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.

The pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.

The New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”

The latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.

The new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.