Prouds the Jewellers (commonly referred to as Prouds) is an Australian jewellery business founded by William James Proud on

Pitt Street Pitt Street is a major street in the Sydney central business district in New South Wales, Australia. The street runs through the entire city centre from Circular Quay in the north to Waterloo, although today's street is in two disjointed sect ...

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

in 1903.

History

Prouds was founded in 1903 by clock and watchmaker William James "Bill" Proud (1871–1931). In 1971 Hooker Corporation acquired Prouds' 72 stores and subsequently the business was sold to Goldmark Jewellers. In 1996 Pascoes purchased the then 93-year-old Australian jeweller, saving it from administration. In 1996, Prouds had 67 stores. This increased to over 195 in 2013. After the acquisition of Farmers, Prouds jewellery kiosks were included in some Farmers stores across New Zealand as

store-within-a-store A store-within-a-store, also referred to as store-in-store (North America) or shop-in-shop (U.K. et al.), refers to a space within a larger retail store, designated for use by a specific brand to feature its products, clearly branded with signs ...

. 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 The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Tra ...

over 'illusory' 'was/now' price advertising. The

Federal Court of Australia The Federal Court of Australia is an Australian superior court which has jurisdiction to deal with most civil disputes governed by federal law (with the exception of family law matters), along with some summary (less serious) and indictable (mo ...

found two of Prouds' catalogues, for

Valentine's Day Valentine's Day, also called Saint Valentine's Day or the Feast of Saint Valentine, is celebrated annually on February 14. It originated as a Christian feast day honoring a Christian martyrs, martyr named Saint Valentine, Valentine, and ...

and

Mother's Day Mother's Day is a celebration honoring the mother of the family or individual, as well as motherhood, maternal bonds, and the influence of mothers in society. It is celebrated on different days in many parts of the world, most commonly in Mar ...

2006, breached the

Trade Practices Act 1974 The ''Competition and Consumer Act 2010'' (CCA) is an Act of the Parliament of Australia. Prior to 1 January 2011, it was known as the ''Trade Practices Act 1974'' (TPA). The Act is the legislative vehicle for competition law in Australia, an ...

. Prouds reported annual income of NZ$707.6 million in 2008–2009. In 2012 Prouds was reported as being the largest retailer by market share in Australia's estimated A$3.8 billion jewellery industry. The same report estimated Prouds revenue as A$600 million.

References

External links

* *{{Commons category-inline, Prouds Jewellery retailers of Australia Australian companies established in 1903 Retail companies established in 1903 Companies based in Sydney