20th century
As the business grew, the company acquired manufacturing facilities and hired silversmiths, goldsmiths, jewellers and watchmakers including Ernest Betjeman, the father of the distinguished poet John Betjeman, one of the most highly regarded craftsman and designers of his day. In the 1920s, commissions poured in from around the world, from American billionaire J. Pierpont Morgan to potentates such as the Maharaja of Patiala, who commissioned a huge teak travelling trunk for each of his wives, in which each trunk was fitted with solid silver washing and bathing utensils with waterspouts of ornate tiger head and lined with blue velvet. Queen Mary purchased a five-strand natural pearl necklace with a diamond-set Art Deco clasp in 1948, as a gift for Princess Margaret’s 18th birthday. The necklace featured in many iconic portraits by Sir Cecil Beaton.[7] Asprey cigarette cases became collectable amongst young sophisticates who delighted in its other modern products, including travel clocks, safety razors and automatic pencil sharpeners.[8]
In the 1970s, brothers Algernon and Harry Asprey were asked to resign as managing directors and they sold their shares to Gabriel Harrison's property company. These shares were eventually acquired by Alfred Dunhill Limited (who were 50% owned by Rothmans International) in January 1979, giving them a 7% share in the company. In June 1979, Dunhill acquired another 23% of the company from the Philip Asprey family and in April 1980 bought 6.8% more from the same part of the family, increasing their stake to 36.8%. Dunhill, together with South African businessman Anton Rupert and Mahdi Al Tajir, wished to acquire more of the Asprey family shares but John Asprey, the largest shareholder, held out and eventually, with the assistance of Morgan, Grenfell & Co., was able to outbid Dunhill to acquire shares from family trusts and retain ownership of 50.4% of the company within the family.[9][10] In 1981, the company was listed on the Unlisted Securities Market.
In July 1990, Sears plc, who at the time held a 25% interest in Asprey, sold Mappin & Webb and Garrard & Co to Asprey, increasing their interest to 38.5% in the expanded group.[11] Naim Attallah became joint managing director in 1990. In 1992, they continued the acquisition strategy and in April they acquired Edinburgh-based Hamilton & Inches for £1.3 million; Watches of Switzerland from H. Samuel for £23.2 million in June and in November 1992, they took over the UK distribution business of Ebel watches. In 1993, they acquired the business assets and name of Swiss jeweller, Les Ambassadeurs for £11 million. Attalah became group chief executive following some structural changes.[12]
In 1995, the group was acquired by Prince Jefri Bolkiah's Amedeo Development Corporation for £244 million, with the Asprey family receiving more than £100 million but retaining a 10% shareholding.[13][14] Following poor performances since his acquisition, in 1998, Asprey sold off Mappin & Webb, Watches of Switzerland and Hamilton & Inches and was renamed Asprey & Garrard and moved from 112 Regent Street to premises on New Bond Street.[15][13] 36 Bruton Street, Mayfair, became the flagship store location in celebration of the 240th anniversary of Asprey in 2021
