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Then, in December 2015, the chain opened a brand new Melbourne CBD store, having exited Bourke Street Mall in 2011 when it was “outbid” by Swarosvki for the ‘flagship’ location the place it had been mall positioned for more than a decade. While that determine indicates a lack of solely 5 stores, the story is more complex – one that is both negative and constructive. However, when the takeover was accomplished, industry sources instructed the ultimate sale was closer to $48 million – a figure that many believed was nonetheless excessive. On a brighter observe, Mazzucchelli’s had increased from 25 shops in 2010 to 30 in 2020, most of that are new areas, with one Zamels retailer being converted to Mazzucchelli’s. As a end result, The Jewellery Group is now less than half the size it was in 2010, operating 60 stores, down from 127 . Even though the number of Emma & Roe shops rapidly elevated, the enterprise in the end proved unsuccessful.

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