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]
 | |
| 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 |
History edit
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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 edit
- ^ a b "Prouds: About Us". Archived from the original on 4 August 2012. Retrieved 18 August 2013.
- ^ Fulloon, Gillian, "Proud, William James (Bill) (1871–1931)", Australian Dictionary of Biography, Canberra: National Centre of Biography, Australian National University, retrieved 6 September 2023
- ^ a b "Colin Polkington: Nationwide". BFM Business First. Archived from the original on 28 March 2019. Retrieved 13 December 2017.
- ^ Hendron, Joe (10 March 2007). "Pascoe's golden century". National Distribution Union. Archived from the original on 19 February 2014. Retrieved 28 April 2013.
- ^ "Pascoes: About Us". Retrieved 18 August 2013.
- ^ "Prouds: Stores". Retrieved 18 August 2013.
- ^ Hendren, Joe (21 July 2006). "The NBR Rich List 2006 – Anne and David Norman". National Distribution Union. Archived from the original on 20 February 2014. Retrieved 13 August 2013.
- ^ Nicholson, Coleby (18 February 2014). "ACCC Picks on Jewellery Retailers?". Jewellers Magazine. Retrieved 19 February 2014.
- ^ George, Peter (22 February 2008). "Australia: Alert – ACCC v Prouds Jewellers Pty Ltd [2008] FCA 75". Mondaq. Retrieved 19 February 2014.
- ^ "Court orders corrective advertising over Prouds' catalogue claims". Australian Competition & Consumer Commission. 11 April 2008. Retrieved 19 February 2014.
- ^ Slade, Maria (26 September 2009), "Norman conquest", New Zealand Herald, retrieved 18 August 2013
- ^ a b Nicholson, Coleby (8 May 2012). "Jewellery Report Gets it Wrong". Jeweller Magazine. Retrieved 24 December 2013.
External links edit
- Official website
Media related to Prouds at Wikimedia Commons
