The Rise of Annoushka Jewellery

The Accidental Designer: From Selling Fish to Fish Cufflinks

This may seem like an unlikely beginning to the story of a successful luxury jewellery brand, but the rise of Annoushka began with her mother’s fish business. Annoushka Ducas and her husband John Ayton founded Links of London in 1990 after Annoushka began gifting fish cufflinks that she had designed to her mother’s restaurateur clients. The couple sold the company in 2006 for £45 million after the business became too big for them. Two years later, the Annoushka brand was born.

Keeping it Personal

Calling the brand Annoushka has helped to establish a personal relationship between the client, the brand, and the designer. This personal element has proven to be popular with the brand’s clientele and some of Annoushka’s best-performing social media engagements are posts showcasing how a piece of jewellery is made and narrating the stories and inspirations behind them. Ayton says:

“The customer is more demanding, in the sense that they want to understand where the inspiration came from”, “they read blogs about how pieces are designed. There’s a real hunger for information.”

Not Buying into Wholesale

Annoushka ensured it has retained its brand identity by avoiding the use of wholesale. As such, the brand has complete control over its designs, product lines and is able to have a hands-on relationship with its customers. Without wholesale, the operation is kept simple and effective. Ducas says:

  “Wholesale adds so much complexity. We’re not at the behest of anybody else who wants something for the new season, or has discontinued something else or put it in a sale — all those things which sometimes feels like the tail wags the dog.”

Expansion in China

In 2017, an Annoushka flagship store was opened in Hong Kong in the Mandarin Oriental Hotel, marking the first international own-store for the brand. Despite having a large number of Chinese visitors who shopped at the London concessions, the brand was still relatively unknown in Hong Kong. By aligning Annoushka with an established Hong Kong base could prove to be a wise and potentially lucrative decision.   

Asian Appeal

According to John Ayton, the fact that Annoushka’s designs have a narrative appeals to the Asian community, who appreciate the work of a living designer. The Touch Wood collection proved particularly popular during the Covid-19 pandemic because of its talismanic associations. Ducas said:

“Over the past weeks I’ve had a number of personal emails from clients saying they’re wearing their Annoushka pieces to help protect them and feel safe in these very uncertain times. Talismanic motifs and meanings have always played a huge role in my work.”

Fortune in the Future?

A Financial Times article published in May 2020 claims that Annoushka is planning to open stores in Taiwan, Korea, and the United States. The opening of 20 more international locations is envisioned by the brand.

But despite all these physical outlets, plus a strong e-commerce operation, the brand is not experiencing its heyday yet in terms of turnover or profit.  During the last 3 years Annoushka made operating losses totalling £2 million.

On top of this, sales in the USA have fallen significantly over the last 3 years.

The Hong Kong store shows strong performance, but the 2020 financials may well be negatively impacted by the riots that began there in October 2019. And not to mention the untold effects that Covid-19 will have on the future of Annoushka. Then again, the brand is not alone when dealing with the perils of the pandemic…

Read Inside the Brand: Annoushka to find out more.

Post written by Holly Marshall