Timing matters. In December 2019, Irish jeweller group Anthony Nicholas sold four of its Fraser Hart shops in the UK for £31.7 million to Watches of Switzerland, the UK’s largest seller of Rolex, Cartier, Omega, Tag Heuer and Breitling watches. The move was part of a major refocusing and investment programme announced by the board into its two main brands, Fraser Hart and Fields, as part of an effort to accelerate its development as an omnichannel business. The deal closed in March 2020, before the lockdown, and left the company with 32 Fraser Hart stores in the UK and 14…

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