Ratners Jewellers was a prominent jewellery chain in the UK during the 1980s, with peak annual sales reaching around £1.2 billion. Its downfall began in 1991 when founder George Ratner made disparaging remarks about his products during a speech, calling them 'total crap'. This led to a significant public backlash and a financial loss of nearly £500 million within a year. The incident serves as a cautionary tale for other businesses about the dangers of alienating customers and undervaluing their own products.
George Ratner famously undermined his own brand during a speech by calling his products 'total crap', which led to a dramatic loss of nearly £500 million in a year.
In the 1980s, Ratners Jewellers had annual sales of around £1.2 billion, comparable to the modern-day success of brands like Pandora.
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