Ratner, Gerald Irving (1949– )

English business executive who built up the family business, Ratners, and revolutionized jewellery retailing in the UK before famously rubbishing his own merchandise. His remarks included the statement that the products would not last as long as a ‘prawn sandwich’. After an ignominious exit from Ratners, he made his comeback with a fitness club and an online jewellery retailer.

Ratner was born in London, England, and went straight from the Town and Country School into the family jewellery business. He was appointed joint managing director in 1978, managing director in 1984, and chair from 1986 to 1992. During his tenure the company dominated the jewellery market. Famous for its 99 pence ‘gold’ earrings, it offered affordable, fashionable items to a young market.

In April 1991 Ratner made his ill-judged remarks to an Institute of Directors conference, the audience included former UK chancellor of the Exchequer Norman Lamont. He tried to dismiss the comments as a joke but was eventually forced to leave the company after its sales and share price plummeted. Ratners, later renamed Signet, went from peak profits of £130 million in 1990 to a £122 million loss in 1992. Ratner then focused on developing a fitness club and a number of online interests.

In 1997 Ratner set up the Workshop Healthclub in Henley-on-Thames (which he sold in 2001) and in 2000 launched D-etre on the OFEX market, an Internet incubator with three initial investments in Jewellery on the Net, I Que Technologies (selling accounting software), and PublicsectorDirect.com (selling equipment to hospitals and schools). In 2002 he set up a new online jewellery business in collaboration with Goldsmiths, called Gerald Online.