Pembroke: Sparkling future for City shoppers

Competition is heating up in the City jewellery market. Jurek Piasecki, chairman of Goldsmiths, the 117-strong chain, fired the first shots in the Battle of the Bracelet yesterday when he paid pounds 840,000 for Winegartens, the long-established Bishopsgate jeweller. It is the chain's first foray into the Square Mile.

'The City is dominated by Mappin & Webb and Watches of Switzerland. We will spend pounds 200,000 on the shop and turn it into the most prestigious jewellery shop in the City,' said Mr Piasecki, whose group is the largest distributor of Rolex and Cartier watches. The store will be renamed Goldsmiths. One saddening sign of the times is the planned inclusion of a new feature in the redesigned shop: a pawnbroker.

Staff at Virgin, Richard Branson's burgeoning airline, vodka and soft drink conglomerate, have been scratching their heads trying to dream up a slogan for its new cola. So far, the best the marketing department has come up with is a rather limp play on Coca-Cola's 'the real thing' - 'Virgin: it's unreal.' Keep trying.

The beaming Mr Branson is so confident that his planned Virgin Cola is going to be a success that he has included a personal guaranteee on the can. 'We believe it tastes better than any other cola you can buy,' it bubbles. 'If you don't agree, then we'll gladly refund your money.' Proof of purchase required, of course.

Is that the sound of axes being ground or is Terry Maher, erstwhile chief executive of Pentos, genuinely saddened by the Dillons and Athena retailer's dire announcements yesterday. 'I'm very distressed,' he laments. 'I wouldn't have thought it was possible to wreak that much havoc so quickly.'

Meanwhile, Mr Maher has plans of his own. 'I want to get involved in book retailing again . . .'

Much misty-eyed nostalgia at The Ritz last night, where some of the City's top receivers gathered for a joint birthday party. The birthday boys were Peter Phillips, partner at the accountants Buchler Phillips, who is 50 this week, and his father Bernard, founder of Bernard Phillips & Co, who was 80 last Friday.

To celebrate the occasion, Peter Phillips gathered 60 of the firm's alumni to a private dinner, where the old boys included Chris Morris, now BCCI specialist at Touche Ross. Every diner departed clutching a copy of the firm's family tree.

Whoever compiled the guest list for the opening of the Warner Bros Studio Store on regent Street last night had a sense of humour. The gaggle of celebrities sipping champagne against a Bugs Bunny backdrop included several former couples, who may or may not have known that their ex-partners were also due to attend. Bill Wyman and Mandy Smith were on the list, as were Koo Stark and former husband Tim Jeffries.

Flying the flag for the still- marrieds were Florida-tanned Ken Foreman, of the bid-embattled waste company Attwoods, and his wife Mandy Rice Davies, of Profumo scandal fame.

Presumably on the grounds that he is sick of the sight of frozen peas, Peter Hinchcliffe, joint founder of Iceland, decided to call it a day yesterday at the ripe old age of 47. Mr Hinchcliffe, who helped found the frozen food retailer in 1970, is stepping down as joint managing director to pursue other business interests. His 11 million shares (current value pounds 16m) should ensure a comfortable, frozen pea- free future.