Luxury jeweller opens new Plymouth showroom with funding support from Santander UK
- South West jewellery business Michael Spiers opens new showroom in Plymouth
- Santander UK provides seven-figure funding to support Plymouth move
- Michael Spiers’ new Plymouth showroom provides an enhanced luxury shopping experience for customers
South west luxury jewellery business Michael Spiers is opening a new showroom in Plymouth on Saturday.
The new showroom, No.2 Cornwall Street, which opens on 14 May, is on the site of the former Americano coffee house, a short distance from its former store, where it had been based since 1969. The new location is near Plymouth’s Drake Circus Shopping Centre and benefits from increased footfall.
Santander UK has supported Michael Spiers’ move in Plymouth with a seven-figure funding package, which has enabled much of the store’s fit-out and refurbishment.
Michael Spiers is a second-generation family-run business with showrooms in Truro, Taunton and Exeter as well as Plymouth. It has banked with Santander UK since 2014, and over the past several years the bank has supported it with working capital and funding toward a refurbishment of its Truro showroom as well as day-to-day banking.
The business was established in 1957 and employs a team of 50 across its four stores. Its new Plymouth showroom is designed to provide an enhanced luxury shopping experience for customers.
Michael Spiers additionally has plans to grow sales through its website, which it began selling through during the pandemic to diversify beyond in-store sales. It is also working to increase sales of its own-brand jewellery.
The business is one of just two authorised retailers for Rolex and Patek Philippe in the south west.
Adam Spiers, managing director, Michael Spiers said: “We are incredibly proud of our Plymouth heritage. Our previous showroom at 54 Cornwall Street, which has been trading since 1969, has been an invaluable part of our story as we’ve built our customers’ shopping experience and presence in the city. We thank Santander UK for its support over the years and of our new Plymouth showroom. As we continue to evolve our customer experience, in line with our exciting growth plans, we are bringing innovation to every area of the business, while never forgetting the history of Michael Spiers.”
Steve Tyers, relationship director at Santander UK, said: “We have worked in partnership with Michael Spiers to support the family-run business’ growth over the past several years and we are delighted to provide it with funding toward its Plymouth showroom relocation. The new showroom marks an exciting new chapter for Michael Spiers, and we look forward to supporting its growth in years to come.”