Originally Posted by Steve_Whelan:
“Gerald Rather was not even talking about Ratners which although the shops were very tacky sold good quality products, he was making fun of HSamual who Ratners Group had just taken over and indeed at the time sold total crap. Mr Rather was a victim of a vindictive British press who like to knock success. They selectively edited the transcript of the speach and printed joke remarks out of context making it sound like he was taking the piss out of his customers.”
If you listen to the speech here:
http://www.youtube.com/watch?v=Nj9BZz71yQE he actually says that one of his chains, Zales, represents quality, another, H Samuel, represents choice, and another, Watches of Switzerland, represents prosperity. He then goes on to talk about Ratners, and says it's positioned "very downmarket" and doesn't represent prosperity or quality. He goes on to talk about the products Ratners stocks and that's when he says that their decanter set is "total crap".
So he wasn't quoted out of context. The context was that he was explaining why Ratners was so profitable, and one of the reasons was that it sold very cheaply made products.