Ortak to open two new stores after dazzling year of sales

Published on Tuesday 12 August 2008 21:23

JEWELLERY designer and retailer Ortak is poised to open two new outlets as it continues to defy the high street gloom with sparkling first-half numbers.

The firm, one of the largest employers in Orkney, said the latest branches – in Glasgow and Livingston – would take its store portfolio to 14.

News of the expansion came as privately owned Ortak unveiled a 9.8 per cent increase in retail sales between January and July of this year to 3.15 million. It also flagged higher full-year profits.

The group booked a pre-tax profit of 224,000 for 2007 on record sales of 6.9m, a 10.6 per cent rise on the year before.

Retail director Yvonne Carr admitted Ortak faced "one of the most challenging retail environments" in its 41-year history,

But she said the company's strength lay in its combination of high street business and inhouse design and manufacturing.

"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," she said.

"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."

Ortak was founded by Malcolm Gray in 1967 and is now run by his sons Alistair and Stuart.

The firm's manufacturing base in Kirkwall dispatches gold and silver jewellery worldwide. The new Glasgow store is due to open at the Silverburn shopping centre next month, while a "flagship" outlet at Livingston's new Elements development is earmarked for an October opening.

The shops will take the number of employees on the retail side of the business to 90. Ortak also has 70 staff at its 27,000sq ft manufacturing premises and visitor centre.

Trade sales, which totalled about 760,000 in the first half, account for almost a quarter of the business.

Carr said the company was preparing to launch a new marketing campaign in time for the crucial Christmas period, which will be fronted by Amanda Lamb, the former face of Scottish Widows and presenter of Channel 4 series A Place in the Sun.

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."