Jeweller shines during recession

By Natalie Lindo
BBC News

Some of the jewellery stocked by Argento

A Northern Ireland jewellery chain is bucking the trend by expanding and thriving during the recession.

Argento, owned by Strabane man Pete Boyle, has a network of 23 stores across the UK.

Mr Boyle opened his first store in Belfast and now has stores in Northern Ireland, the Republic of Ireland, Scotland and England.

A £2m investment means eleven new Argento outlets are due to open over the next year, creating 60 new jobs.

The chain plans to open six new outlets in the first seven months of 2009 and a further five stores in the second half of the year.

Mr Boyle said part of his success was down to being careful during the boom time.

"We were very careful back then, in fact I would say it was hard for us," he said.

"Two years ago the trends were moving away from silver jewellery to costume jewellery," he said.

Argento's flagship store on Royal Avenue, Belfast

"It was something we didn't know much about, so we had to re-educate ourselves."

"We had the wrong products in the stores so we changed all that and it seemed to work."

The brand has recently launched stores in Craigavon, on Royal Avenue in Belfast and in Doncaster in England.

Mr Boyle said having a dedicated team behind the brand has helped him do well.

"We are working very hard to make the business succeeds in these tough times," he said.

"We are very proud of the achievements of the business and even prouder to be able to create employment opportunities at a time when so many people need jobs," Mr Boyle added.

Mr Boyle is due to open two new premises in Dublin, including one on Grafton Street, something he could not have imagined a few years ago.

"When things were going well for the property sector things weren't going so well for Argento.

"Opening stores simply wasn't possible because the rents were too high" he said.

"I've wanted to have a store on Grafton Street for ten years but it wasn't affordable but now the rents have come down we have taken the chance."

Mr Boyle said he hopes to expand the business to forty stores by 2010, creating a further 70 jobs.