"We brought the company together in a way that was focused in the core categories," Rigas said. "We refocused on the product lines, supply chain, logistics and warehousing operations. We rationalized and downsized the product base."

Rigas added that sales for the year ended March 31 didn't surpass the $42 million in sales from 2006 because of the streamlining of product categories, but that sales so far this year are up — jewelry and watches specifically have grown 25 to 30 percent from a year ago.

"I hate to say it because I know people are suffering out there, but our sales are up 15 percent worldwide this year," said Rigas. "Growth is not so good in the U.S., but it's much better in other markets."

Rigas said the London flagship had a 25 percent gain and that the three-year-old Japanese business is up 100 percent over last year. Rigas said that while clients from emerging markets like Russia and Dubai gravitate toward Asprey, he is not looking to opening stores across the globe to satiate their desire.

Asprey has 15 stores across the U.K., U.S., Switzerland, Dubai, Malaysia and Japan, with flagships on London's New Bond Street and Madison Avenue in New York. In 2009, the firm is slated to unveil plans for a flagship in the Middle East.

But for now, the company is focused on bolstering its silver, leather goods, china, gifts, crystal, rare books and hard luxury goods business. In September, Asprey will launch several jewelry collections. Offerings will range from entry price point to high jewelry, which sells for hundreds of thousands and often millions of dollars.