Gerald Ratner : The Rise and Fall...and Rise Again

In 1991, Gerald Ratner made a landmark speech to the Institute of Directors. After over 25 years in the jewellery trade, Gerald Ratner was one of the most well known and successful retailers of his generation. He had built up a highly profitable, multi million pound international business, including household names like Ratners, H. Samuel, Ernest Jones and Watches of Switzerland, as well as over one thousand stores in the US. Being asked to give the keynote address at the Institute of Director s annual conference at The Royal Albert Hall was a great honour and should have been the crowning glory of two decades of empire building. But his speech was seized upon by the media after he included jokes about the quality of some of his shops products. No one could have predicted the far reaching impact these jokes would have. "Even though I had once had my name above hundreds of shops up and down the country, it had become more famous as a byword for crap. It took several years to realise just what an impact the speech had had on every aspect of my life."