The Royal Doulton Collectors Club
September 4, 2016
"Antiques Are Here To Stay":
In my humble opinion, antiques are here to stay. Even though the present values are low
and may even go lower, the existance of a business in antiques whether at antiques shows,
antiques stores, antiques malls and the internet are here to stay.
Yes, there has been an understandable decrease in all venues except the internet. This for
forecast way back in the late 80's as show attendance and sales decreased. Shops and malls
took longer to see the change, but never-the-less, change did come.
Currently, antiques shows attendance and sales has decreased. No new shows of any
consequence have started up and some have even decreased their schedule.
The major reason for these decreases has been the economy. Personal pockets of collectors
just don't have the available cash for purchasing non-necessities. Compared to the stock market
antiques in general are doing much better than lots of 401K's and savings and credit -card
But why collect antiques? At the current lows in sales come along the general drop in prices
of antiques, many below cost, comes the bargains, that's if you know one if you see it.
As far as being an "investment", I never tell my customers to "invest" in antiques. I don't like
to be blamed for giving bad information, but I can't honestly tell them to invest in the stock
But if you've got the "bug" or "disease" of collecting, there are many reasons for you to continue
Antiques produced today have part of the equation missing, "quality". Take for example,
Royal Doulton. Not the quality product produced in England, but the new Royal Doulton
produced in Indonesia or elsewhere.
Searching for antiques can be a justification for continuing on the hunt and quality items
can and are found at garage sales, estate sales and even antiques shows.
Time & Interest:
The search and the collecting can go on for many years and become a source of interest
and entertainment for many senior citizens.
Once you start eating peanuts, it's hard to stop, same with antiques.
Royal Doulton Collectors Club
February 8, 2019
Asking a Favor: A new website wants to get started and trying to get viewers. The current method is so crowded, there are millions of waiting sites that can't get on. Please try the new site: Coachman Antiques: Email: email@example.com
December 28, 2018
Just a few words to close out the year.
I've read some interesting articles telling that it's not the problem of prices going down, it's the problem of fewer buyers of antiques. More buyers are looking at decorative items from the 1900"s and forward. This places Royal Doulton in a good position as lots of the production was made the the middle to late 1900's.
Have a healthy and happy New Years!
September 24, 2016
"Downsize". Sell your inherited Royal Doulton collection online. The majority of emails we receive these days deals with children or grand-children trying to dispose of their inherited Royal Doulton Figurines. They don't have the display space necessary to show them properly. Lots of good material is going to be hitting the market place soon.
March 19, 2017
Why am I so hooked on Doulton-Lambeth & Royal Doulton.
It's the only company I've heard of that was in business for so many years, products distributed throughout the world and beauty that's hard to match.
It's only too bad that the original company had to fold and gone to Asia.
I don't know if the employees received any long term benefits or retirement or termination pay, but they should have.
That's where I come into the picture.
I think that the Queen should revoke the Gold Warrent given to the original company and not to the current company which is not in England and the products of which are not made in England, but yet the new company receives the benefits of the old company.
Acquisition and Tender offer
Fiskars Corporation acquires the renowned WWRD and extends its portfolio with iconic luxury home and lifestyle brands
Fiskars Corporation Stock Exchange Release May 11, 2015 at 08:00 EET
Fiskars Corporation (Fiskars), a leading global supplier of consumer products for the home, garden and outdoors, has agreed to acquire the WWRD group of companies (WWRD) and its portfolio of iconic luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. Fiskars continues executing its growth strategy and becomes a leading global branded consumer goods company in the luxury and premium home and lifestyle products market, with a clear focus on tabletop, giftware and interior décor. For Fiskars Living business, the WWRD acquisition will create a strong presence in the U.S., and will further enhance Fiskars’ market position in Europe and Asia-Pacific.
Fiskars has on May 10, 2015 agreed to buy 100% of the shares in the holding company of the WWRD group, including its brands and business operations from the U.S.-based private equity firm KPS Capital Partners. Fiskars will also acquire certain intercompany receivables. The purchase price payable is USD 437 million (EUR 406 million) on a cash and debt free basis, subject to a post completion adjustment based upon the level of net working capital and cash and debt in the acquired business on a closing date. Fiskars will finance the acquisition by monetizing its holdings in short term interest rate funds. The transaction is subject to the completion of the antitrust filing under the U.S. Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), and it is expected to close in the beginning of July 2015.
According to unaudited special purpose carve-out financial information, the net sales of WWRD equalled USD 432 million (EUR 402 million) and preliminary EBIT USD 33 million (EUR 31 million) at company’s constant currency rates in fiscal year ending on April 4, 2015. The estimated geographic distribution of the aforementioned net sales is Americas 44%, Asia-Pacific 35%, and Europe 21%.
Fiskars’ outlook for 2015 published in Q1 2015 interim report on April 30, 2015 does not take into account the impact of the now disclosed acquisition on the company’s net sales or operating profit for 2015. Potential implications on Fiskars’ outlook for 2015 will be announced later when a reasoned estimate can be made.
Upon the closing of the transaction, Fiskars and WWRD will start building a successful future together as part of a strong family of highly renowned brands. The management of WWRD will report to Mr. Kari Kauniskangas, President and CEO of Fiskars Corporation.
“We are delighted to be bringing together WWRD’s portfolio of iconic luxury home and lifestyle brands with Fiskars’ highly regarded Living brands of Iittala, Royal Copenhagen, Arabia and Rörstrand, which are renowned for their Scandinavian design and heritage. After the acquisitions of Iittala Group Ltd. in 2007, Royal Copenhagen A/S in 2013 and now WWRD, Fiskars Group is set to become a leading global branded consumer goods company in the area of luxury and premium home and lifestyle products focusing on table top, giftware and interior décor,” says Kari Kauniskangas, President and CEO of Fiskars Corporation.
“Through the acquisition we will create a strong presence for the Fiskars Living business in the U.S., and further enhance Fiskars’ market position in Europe and Asia-Pacific. Fiskars will now have a balanced portfolio of businesses. Our Functional products and Living products business units will become approximately equal in size and all business units, including Outdoor, will continue as important parts of our company and will be developed according to our strategy,” continues Mr. Kauniskangas.
The brand portfolios and product offerings of Fiskars Living business and WWRD complement each other exceptionally well. Fiskars will continue to develop all WWRD and Fiskars Living brands, as the success of each brand stems from preserving their intrinsic values. As a company with centuries of history, the heritage and longevity of WWRD’s brands resonates strongly with Fiskars. The unique offering of each brand is based on a combination of their heritage and history. Fiskars will focus on strengthening these unique brands based on Fiskars’ consumer insight and deep understanding of consumer goods industry drivers and on leveraging common success models across them.
“We look forward very much to building a joint future with Fiskars. There is an excellent fit with the brand portfolios of both companies, and we will be able to build a joint success that will stem from the deep roots and core values of both the WWRD and Fiskars’ Living brands. We are delighted to be getting an owner that has strong industry experience and an impressive 365 years of heritage in Scandinavian design. I am confident that these strengths, together with our continued focus on contemporary relevance, will ensure that the WWRD brands will retain and indeed grow their iconic status around the world and capture the ongoing growth in luxury demand,” says Mr. Pierre de Villeméjane CEO of WWRD.
WWRD brands are synonymous with exquisite design, exacting quality and skilled craftsmanship
WWRD manufactures, distributes and sells globally renowned brands with centuries of heritage. The portfolio includes Wedgwood (established in 1759), Waterford (1783), Royal Doulton (1815), Royal Albert (1904), and Rogaška (1665). WWRD has a global footprint and has manufacturing sites in England, Ireland, Slovenia and Indonesia. The retail store structure consists of 226 own stores, of which 76 are owned by WWRD and the remaining 150 are concession stores. WWRD products are also sold in luxury and premium department stores and by specialty retailers in over 100 countries and 10,000 locations. WWRD employs 3,800 employees across 14 countries and, after the acquisition, Fiskars Group will employ a total of 8,600 employees.
WWRD has high-profile licensing partnerships and collaborations with leading designers and innovators in the home and lifestyle market, including: Vera Wang, Jasper Conran, John Rocha, Monique Lhuillier, Gordon Ramsay, Donna Hay, Miranda Kerr, Jo Sampson, Barber and Osgerby.
Preliminary unaudited combined financial information
Basis for preparation
The unaudited combined financial information presented below is based on Fiskars Group’s audited financial statements for the financial year 2014 and WWRD Holding Limited's unaudited special purpose carve-out financial information for the 12 months period ended April 4, 2015.
The combined financial information is for illustrative purposes only. The combined financial information gives an indication of the combined company's sales and earnings assuming the activities were included in the same company from the beginning of the last financial year. The combined financial information is based on a hypothetical situation and should not be viewed as pro forma financial information as purchase price allocation, transaction costs, differences in accounting principles, financing costs and effects of the financial year alignments have not been taken into account. The difference between preliminary consideration to be transferred and WWRD's carve-out net assets has been allocated to non-current assets on the illustrative combined balance sheet.
For the purpose of this illustrative combined financial information, the preliminary consideration to be transferred has been assumed to be financed by monetizing Fiskars’ holdings in short term interest rate funds. The effects of the planned financing have been taken into account in the illustrative balance sheet information. However, no adjustment for any additional financing costs has been included in the illustrative income statement information.
WWRD's income statement and balance sheet information and all before mentioned financial figures have been converted into EUR using the EUR/USD exchange rate as at 31 March 2015 (1.0759).
For the purposes of financial reporting, the actual consolidated financial statements of Fiskars will, however, be calculated based on the consideration transferred and the fair values of WWRD's identifiable assets and liabilities at the closing date and as a result, the consolidated income statement will reflect the amortization and depreciation charges of the acquired assets recognized at fair value. Balance sheet items could therefore differ significantly from the combined financial information presented below and, as a result, have a significant impact on other items included in the income statement of the combined company. As such, the preliminary combined financial information presented below is not necessarily indicative of future results of operations or financial position of Fiskars.
Further the financial information for WWRD has been prepared on a “carve-out” basis and it does not necessarily reflect what its combined results of operations and financial position of WWRD would have been, had WWRD operated as an independent group and had it presented stand-alone financial information under IFRS during the periods presented. Moreover, the carve-out financial information may not be indicative of WWRD’s future performance of the operative activities aggregated within Fiskars.
Unaudited illustrative combined income statement information (2014)
EUR million Combined company Fiskars* WWRD
Net sales 1 169.1 767.5** 401.6
Operating profit (EBIT) excluding non-recurring items 90.5 59.6** 30.9
Profit before taxes 85.9 82.8 3.1
Profit for the period 63.7 62.6** 1.1