Watches of Switzerland reports revenue growth as US customers keep spending Retail Watches of Switzerland, the UK's largest luxury watch retailer, today reported revenue growth of two per cent in constant currency for the first half of its financial year.
Head to Watches of Switzerland Knightsbridge this weekend for an amazing Patek Philippe exhibition watch exhibition If you’re looking for some horological inspiration this weekend, head over to Watches of Switzerland in Knightsbridge, where you can find a unique and inspiring collection of Patek Philippes. The exhibition is designed to celebrate the finest in watchmaking, looking at both the brand’s iconic timepieces and paying homage to the historic references that have [...]
Watches of Switzerland bolsters luxury portfolio with £104m Roberto Coin deal Luxury Luxury watch retailer Watches of Switzerland has bought the Italian jewellery brand Roberto Coin for $130m (£104m).
Watches of Switzerland: Firm ‘encouraged’ by tourist tax review as UK market underperforms February 8, 2024 Luxury retailer Watches of Switzerland is continuing to feel the pinch from rich shoppers scaling back and the damage wrought by the so-called ‘tourist tax’. In an update this morning, the Rolex seller said group revenue declined by one per cent to £397m in the third quarter, and in the UK and Europe it fell [...]
Watches of Switzerland: Shares crater 30 per cent as demand for luxury flattens January 18, 2024 Shares in Watches of Switzerland have fallen by over 30 per cent after the luxury watch maker warned on its earnings for the year. . In an update, the Rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the [...]
Recession? Try a Rolex: Watches of Switzerland revenue up again May 17, 2023 Luxury watch retailer Watches of Switzerland’s revenue rose 22 per cent in the final quarter but the luxury watchmaker warned that there would be a slight sales dip in the first quarter of the next financial year. In the quarter to April, revenue rose 22 per cent to £371m on a reported basis. At constant [...]
Watches of Switzerland: Tourist tax ‘biggest single frustration’ for UK retailers August 10, 2023 The government’s decision to scrap VAT-free shopping for tourists is continuing to hold UK retailers back, Watches of Switzerland has warned. Chief executive of the FTSE 250 luxury watch seller Brian Duffy told City A.M. it was “probably the biggest single frustration” for the British retail sector. “I was in Italy this weekend and the [...]
How Miu Miu escaped the luxury slowdown which hit LVMH, Gucci and Watches of Switzerland May 7, 2024 Miu Miu has managed to create a brand which taps into to the Chinese fashion trends Gen Z shoppers are looking for.
Watches of Switzerland share price plummets 27 per cent after Rolex deal for Bucherer August 25, 2023 Shares in Watches of Switzerland fell over 27 per cent this morning following news that Rolex had bought fine jeweller Bucherer AG. This morning the luxury watch seller, which deals Rolex timepieces, tried to stave off investor concerns that the acquisition would hinder sales at the company. “There will be no change in the Rolex [...]
Inflation? Have a Rolex instead. Watches of Switzerland revenue up a quarter as mega-rich keep spending July 13, 2023 Watches of Switzerland reported a 25 per cent hike in revenues for the year, as the demand from the mega rich for luxury goods shows no signs of stalling despite the cost of living crisis. The luxury watch seller reached revenues of £1.54bn up from £1.23bn compared to the same period last year, as it [...]