Luxury thefts in London reach record high – London Business News | Londonlovesbusiness.com

New Metropolitan Police data* has revealed the number of reported luxury thefts in London has surged 22% in the past year, reaching a total of 9,433 stolen jewellery, watches and handbags in the past year alone.

According to the latest data, designer handbags are the items that have seen the largest increase in theft since 2022 (up 19% year on year.) Watch thefts have fallen by 8%, however, only 1.25% of these were recovered by the police.

The data comes as the Met police investigate gangs known as the ‘Rolex Rippers’ in London using undercover officers to catch robbers attempting to steal luxury items to help cut watch theft in the capital.**

The data, collated by London criminal defence solicitors Lawtons, revealed the most targeted designer watch brand as Rolex, accounting for 17% of total watch thefts in the past year.

This was followed by Cartier (3%) and Omega (2%). The most common handbag brands include Louis Vuitton (6%) and Chanel (4%).The data also revealed Westminster is the London borough targeted most often by luxury thieves. Westminster had over 1,596 reported incidents in the past year, nearly double the number in second-placed Kensington and Chelsea (810) and Ealing (618).

• Westminster- 1596
• Kensington and Chelsea- 810
• Ealing- 618
• Barnet- 618
• Camden- 504
• Hammersmith and Fulham- 462
• Harrow-420

Dawn Mcknight, criminal defence solicitor at Lawtons Solicitors, said, ”Thieves tend to operate in affluent areas and tourist hotspots, scouting for luxury watch and jewellery owners to target.

“Robberies are occurring in owners’ cars, homes and on the street, often in broad daylight. It’s important that victims and witnesses contact the police as soon as the theft occurs – the first hour after the incident takes place can be critical to catching the suspect. Reporting the incident can help your cause in these circumstances.

“People are definitely more conscious of wearing designer items nowadays, especially in major cities like London. Watch owners should keep their watches entirely hidden from sight when in public spaces by keeping sleeves rolled down and car windows shut”

Eamonn Turley, CEO and Insurance expert at Multi Quote Time added, “Getting jewellery and watches insured is crucial because these items often hold significant monetary and sentimental value. Insurance provides a safety net, ensuring that if your items are lost, stolen, or damaged, you won’t face the financial burden of replacing them out of pocket.

“High-value pieces, such as heirlooms or luxury watches, can be particularly costly to replace, making insurance a smart investment for peace of mind.

“If your jewellery or watches have been stolen, the first step is to report the theft to the police and get a copy of the report, as this documentation will be necessary when filing an insurance claim. Next, notify your insurance provider as soon as possible to start the claims process.

“They will guide you through the steps needed, which typically include providing proof of ownership and value, such as receipts or appraisals, and details of the circumstances surrounding the theft. Acting quickly and providing thorough documentation will help expedite the claim and increase the likelihood of a successful reimbursement.”