Q&A: Tustains’ Tom Milner talks Leamington Spa luxury

Tustains has been a cornerstone of Leamington Spa’s retail scene for over 130 years.

The current leadership team comprises the brothers Tom and Joe Milner. Tom spoke to Watch Insider about family dynamics, the luxury scene in Leamington, and why it would be ingenious if Omega was to produce a plastic Speedmaster…

Watch Insider: As a family business, how does the history of the company influence your outlook today, especially in terms of risk management? Or do you consider it in the past and not relevant?

Tom Milner: The business was founded in 1895, when Leamington was emerging as a trendy spa town. My father’s time coincided with Gerald Ratner and the rise of commercial high street jewellers. I think he would probably say that that pushed independents to focus on quality, which meant that his stewardship was about elevating above the multiples. That directly influenced us because we were in a very similar position a bit later on with online shopping and brands selling directly. In terms of risk management particularly, I would say it’s very difficult to be guided by what went before because the landscape is too different.

WI: Does the history and heritage of the store and its place in your family make life easier or harder for you and your brother today? On the one hand, you have a wonderful reputation in the Leamington Spa community, but on the other hand it might inhibit you from spreading your wings and experimenting with certain expansion plans that you fear wouldn’t be in line with the values of the original company.

TM: One hundred percent easier; we wouldn’t want to do anything that wasn’t aligned with our values. On top of that, whilst we are very established, our brand isn’t limited by or bogged down in heritage. We’re more at liberty than ever, especially since we moved.

WI: More generally, what are the business dynamics like between you and your brother? Do you have very defined and separate roles, or do you collaborate on a lot of decisions on a daily basis?

TM: Extremely defined I would say; twenty years defined! Some roles are common, divided along a line of jewellery or watches. Other responsibilities have found one or the other of us to be more eligible, and we talk a lot. 

WI: You work with some of the biggest watch brands in the world, but does this come with the pressure of delivering exceptional performance? Or do you see it the other way, and think that you could take on one of the ‘big two’ brands down the line, on the back of the work you’re doing with the likes of Tudor and Omega?

TM: It does come with pressure, but that helps to drive standards and challenge us. One of the brilliant things about working with great brands is how much there is to learn from them and how they work. In terms of partnerships, I look at it this way: rather than coveting particular brands, we will keep progressing and being the best version of ourselves that we can be, which is a sound basis for fulfilling partnerships along the way. We are very well aligned with our current brands, which makes for very enjoyable relationships. There are one or two others at the moment which I think would really suit us.

WI: What’s the key to luxury retail in 2026? Champagne bars are no longer novel, so are there any tricks or routines that you practice that you think have kept you really relevant?

TM: It’s a very interesting question, especially as luxury is very subjective. I can think of locations where high street dereliction is interrupted by the Rolex door; you could say that isn’t very luxurious! Before you start popping corks, the basics are always the most important thing and they don’t go out of fashion. To use the way your question is phrased to illustrate that, I would say that once you are relying on ‘tricks or routines’ then it’s no longer luxury. It’s partly the reason independent jewellers have outlasted other types of independents, because people value authenticity even more highly when making emotional purchases, and that is in increasingly short supply.

WI: How do you view Leamington Spa and your specific location? Is it a case of “We’ve always been here, so we’re not moving,” or do you think that it’s a genuinely good area for luxury consumers? Is there scope for expanding and/or developing the current premises?

TM: It’s a genuinely good area. We are very lucky that Leamington is in very good shape and with further potential. It is one of the catchment’s principal shopping destinations, well connected, architecturally attractive, and affluent. The population is increasing with significant residential developments completed and ongoing. There is also currently a plan being developed to pedestrianise the main shopping area which may well make a move more likely for us than an expansion of our current premises.

WI: How have consumer buying habits changed in the years since you’ve been running the business? Are there greater expectations around things like sustainable packaging, for instance? 

TM: Digital media and e-commerce have driven massive changes in buying habits including clients being much better informed and engaged.  Sustainability makes for good content but I’ve always assumed it is more in demand in other areas of retail as I haven’t found clients to be concerned by it.

WI: As a traditional jeweller, how difficult (or otherwise) has it been to embrace the digital side of things? Whether that’s e-commerce or simply just a beautiful looking site, it feels like it should be a lot harder for an independent, versus a Watches of Switzerland, for example.

TM: It has been difficult to enjoy at times! We have a more functional relationship with it now than we have in the past. During the early years of e-comm, it was maddening. All that has levelled out one way or another, and we are well reconciled with the digital side of things. Admittedly, a part of that reconciliation was accepting limitations; it is much harder for independents, which is obviously a matter of scale. It’s the digital marketing budget where this really tells rather than websites themselves.

WI: What views do you have on the perceived shortage of skilled watchmakers? Do you find it a struggle to keep your top clients happy when they have to wait so long for a service of their watch? If so, what can you or the wider industry do to help make this experience better for the customer?

TM: I see it as tiresome more than difficult, I think it’s more of an issue for the brands than the retailer. Given that the service of a watch might well be the most direct interaction a client has with the brand, I’m amazed that servicing hasn’t been more embraced as a public relations opportunity. If a courtesy watch scheme was workable, it would definitely be acceptable to the client.  I thought the Hublot “NOT FOR SALE” loan watch was ingenious. Imagine if Omega made a plastic Speedmaster for example… I mean who would want to wear that!

WI: What is the single major issue occupying your mind regarding the business this year?

TM: Higher costs!

WI: What does success and growth look like to you? Where would you like to see the company in 10 years’ time?

TM: On a thriving high street. With a horizon of 10 years, the condition of the high street in general is a necessary part of the conversation. At the moment independent retail is succeeding despite policy. The effort put in to support a shopping centre, which improves a community, needs to be matched by policy that levels the playing field between online and high street retail. Other than that, at my ripe age I get to consider succession, so I will include being ably guided by someone who loves Tustains as much as we do.