Prouds
| Error creating thumbnail: File missing | |
| Industry | Retail |
|---|---|
| Founded | 1903 |
| Founder | William James Proud |
| Headquarters | Pitt Street, , Australia |
Area served | Sydney Brisbane Melbourne Perth |
Key people | William James Proud |
| Products | Jewellery |
| Revenue | A$600 million (2012) |
| Parent | James Pascoe Group |
| Website | prouds |
Prouds the Jewellers (commonly referred to as Prouds) is an Australian jewellery business founded by William James Proud on Pitt Street, Sydney in 1903.[1]
History
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Prouds was founded in 1903 by clock and watchmaker William James "Bill" Proud (1871–1931).[1][2] In 1971 Hooker Corporation acquired Prouds' 72 stores[3] and subsequently the business was sold to Goldmark Jewellers.[3]
In 1996 Pascoes purchased the then 93-year-old Australian jeweller, saving it from administration.[4] In 1996, Prouds had 67 stores. This increased to over 195 in 2013.[5][6] After the acquisition of Farmers, Prouds jewellery kiosks were included in some Farmers stores across New Zealand as store-within-a-store.[7] However, after the purchase of Angus & Coote, it was replaced with Goldmark, and Prouds is no longer marketed in New Zealand.
In February 2008 Prouds lost a case against the Australian Competition & Consumer Commission over 'illusory' 'was/now' price advertising.[8][9] The Federal Court of Australia found two of Prouds' catalogues, for Valentine's Day and Mother's Day 2006, breached the Trade Practices Act 1974.[10]
Prouds reported annual income of NZ$707.6 million in 2008–2009.[11] In 2012 Prouds was reported as being the largest retailer by market share in Australia's estimated A$3.8 billion jewellery industry.[12] The same report estimated Prouds revenue as A$600 million.[12]
References
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External links
[edit | edit source]- Official website
- Error creating thumbnail: File missing Media related to Lua error in Module:Commons_link at line 62: attempt to index field 'wikibase' (a nil value). at Wikimedia Commons
