For more than 200 years Asprey was the last word in luxury. From its flagship store on London's New Bond Street, the Asprey empire made everything from jewelry to watches to crystal and china, providing a bespoke service to Europe's royalty and employing designers such as Jade Jagger and Hollywood actress Keira Knightley to promote its goods.

But over time, the queen's jewellers slipped out of fashion. In 2006, after racking up substantial losses and then disposing of its New Bond Street shop in a sale-and-leaseback deal, it was rescued by John Rigas, the Greek-born chief executive of US private-equity firm Sciens Capital Management. Since then Rigas has cut costs, reorganised product lines and refocused Asprey's store network.