Benzie in Cowes is a place where one single item can have a price-tag of many thousands of pounds. The jewellers is a high street institution, first opening its doors in 1863. The Rolex flag flies from the listed frontage and the shop has been owned by Subhash Lodhia since 1998, still selling watches and yachting jewellery.
“Our appearance is part of our appeal,” says Subhash. “It works for us. What is happening on the high street is worrying but for high-end customers they still trust businesses like ours. They want to see and touch an expensive watch. They don’t want to buy something a bit cheaper elsewhere, where they don’t know anything about it. Benzie is internationally known for our yachting jewellery and Australia and America are big markets for us. We have survived and we’re continuing to doing well.”
Subhash attributes Benzie’s continued success to his staff, the majority of whom have been with the shop since he took the business on. “I’ve been very lucky,” he says. “My team have been loyal and we are loyal to them. They have years of experience and take a huge interest in their work.”
Despite the financial squeeze there hasn’t been a huge impact on sales of watches, which have increasingly become investment purchases for the yachting fraternity. Brands like Breitling, Raymond Weil and Gucci are steady sellers. Rolex have been “particularly good” to Benzie and the new Tudor range is bringing footfall to the shop. July and August are peak months and there are extended opening hours during Cowes Week. Subhash estimates that visiting sailors supply 50% of his business although he quickly points out the importance of other markets and services.
“We’ve brought in new products and new ideas. Even in the quiet months we change batteries, solder jewellery and carry out repairs in store or at our London workshop. We have more affordable jewellery too, with designer silver ranges. It isn’t just high value items. We know our products well and we will be making even more of that personal touch in 2015.”
Benzie is a destination in its own right and its continued success probably says more about the jewellery market than it does about the fortunes of Cowes as a town.
