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ROX SET TO CONTINUE TO SPARKLE AS JEWELLER MOVES BANKING TO HSBC

ROX, the independent jeweller of the year, has appointed HSBC as its sole banking partner as the company eyes future expansion in domestic and international markets.

The contemporary independent jeweller, which has four boutique stores and employs 80 staff in Scotland, has moved its retail banking requirements to HSBC to facilitate its aspirations to grow the ROX brand and develop both its retail and online business.

Founded in 2002 with a store in Glasgow’s Argyll Arcade, ROX has grown to a multi-channel retail business with an annual turnover of £10m. Focused on investing in product quality and customer service, the company is currently evolving its offering to build its online presence and capitalise on opportunities in international markets.

The jeweller, which quadrupled the size of its original Glasgow Argyll Arcade store following a £1m refit at the beginning of the year, has also been recently named Independent Jeweller of the Year for 2011 and Scottish Retailer of the Year at the Scottish Fashion Awards 2011.

Kyron Keogh, managing director of ROX, said:

“We first met with HSBC whilst doing business in Hong Kong back in February and during our discussions were struck by the cultural fit between the two brands. As a company which sources products in the Far East, Europe and America, HSBC’s international capabilities were extremely attractive to us, particularly as we seek to continue to develop relationships within these markets.

“We decided to move to HSBC as it is a well capitalised bank whose flexible approach will help support our growth aspirations. This will involve developing our online offering to expand our reach - we were the first UK jewellery retailer to optimise our website for smartphone users and we continue to see great potential for growth in this area.

“We’re wholly confident that our new relationship with HSBC will benefit us moving forward as we leverage the strength of our brand and the quality of our products to continue to expand the business.”

Mark Tate, head of commercial banking for HSBC in Scotland said:

“ROX is a prime example of a Scottish business which is innovative, entrepreneurial and one step ahead of the competition in terms of its approach. HSBC’s unrivalled international presence, coupled with it’s on the ground support, will help ensure the business continues to go from strength to strength as it seeks to expand into new markets.

“Our Glasgow-based commercial banking team, who ironically first met with ROX in Hong Kong, has enjoyed working with the management team at ROX to ensure the seamless move of its retail banking to HSBC. We look forward to developing this relationship as we support them in their growth aspirations.”

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