Asprey of London (1781-present)
Asprey was founded in 1781 in Mitcham, Surrey, by William Asprey as a silk printing business. Over time, it evolved into a prestigious luxury goods company. In 1841, Charles Asprey, William’s eldest son, formed a partnership with a stationer on London’s Bond Street. However, by 1847, the family dissolved the partnership and relocated to 167 New Bond Street.
From this new location, Asprey became known for offering high-quality, uniquely designed items, catering to discerning clients seeking luxury for personal use and home decor. One of the company’s early specialties was the creation of dressing cases, designed primarily in leather to suit the new age of railway travel. Asprey’s primary competitor in this market was H.J. Cave & Sons, and although Asprey earned honorable mention for its dressing cases at the 1862 International Exhibition, it ultimately lost to H.J. Cave & Sons in both 1862 and 1867. Asprey expanded its business through acquisitions. In 1859, it absorbed Edwards, a dressing case maker and Royal Warrant holder, though the company soon lost the warrant after the merger. Asprey also acquired the Alfred Club at 22 Albemarle Street, giving the company entrances on two fashionable London streets. Additionally, it purchased Leuchars & Son, a well-known case maker with a shop on Piccadilly, which closed in 1902.
Asprey Art Deco Silver and Amboyna Cigar Case sold by Jacksons Antique
As Asprey’s business flourished, the company expanded its operations by acquiring manufacturing facilities and employing skilled artisans, including silversmiths, goldsmiths, jewellers, and watchmakers. Among them was Ernest Betjeman, father of the renowned poet John Betjeman, who was one of the most respected craftsmen and designers of the era belonging to the Betjemann family. The 1920s saw a surge in high-profile commissions from notable clients around the world, including American financier J. Pierpont Morgan and the Maharaja of Patiala. The Maharaja famously ordered large teak traveling trunks for each of his wives, each fitted with silver bathing accessories, featuring tiger-shaped waterspouts, and lined with luxurious blue velvet. Asprey’s cigarette cases became fashionable collectibles among young elites, alongside their other modern offerings like travel clocks, safety razors, and automatic pencil sharpeners.
In the 1970s, a significant shift occurred when brothers Algernon and Harry Asprey were asked to step down as managing directors. They subsequently sold their shares to Gabriel Harrison’s property company, which eventually transferred ownership to Alfred Dunhill Limited, a company partially owned by Rothmans International. In January 1979, Dunhill acquired a 7% stake in Asprey, and by June of the same year, they had purchased an additional 23% from the Philip Asprey family. By April 1980, their stake grew to 36.8%. However, John Asprey, the largest shareholder, resisted further sales. With assistance from Morgan, Grenfell & Co., John Asprey outbid Dunhill, securing additional shares from family trusts and maintaining a 50.4% controlling stake within the family. Asprey was listed on the Unlisted Securities Market in 1981.
Close up of Asprey silver hallmarks on an engine turned cigarette case sold by Jacksons Antique
In July 1990, Sears plc, which held a 25% stake in Asprey, sold Mappin & Webb and Garrard & Co to the company, boosting Sears’ interest to 38.5% in the newly expanded group. Naim Attallah became joint managing director that same year. Asprey continued its acquisition strategy in the early 1990s, purchasing Edinburgh-based Hamilton & Inches for £1.3 million in April 1992, and Watches of Switzerland from H. Samuel for £23.2 million in June of that year. In November 1992, Asprey acquired the UK distribution business of Ebel watches and, in 1993, purchased the assets and name of Swiss jeweler Les Ambassadeurs for £11 million. Attallah eventually became group chief executive after a company restructuring. In 1995, Prince Jefri Bolkiah of Brunei purchased Asprey for £244 million, with the Asprey family receiving over £100 million but retaining a 10% stake in the business. Despite the acquisition, the company struggled financially, leading to the sale of Mappin & Webb, Watches of Switzerland, and Hamilton & Inches in 1998. The company was rebranded as Asprey & Garrard and relocated from its historic premises at 112 Regent Street to New Bond Street.