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 [...]
Watch news: Omega’s new dressy diver and a Bucherer experience June 16, 2023 While Omega’s dressy diver hops time zones and date lines, fashion giant Saint Laurent makes a muse of a cult Girard-Perregaux digital from the Seventies, and London’s bricks-and-mortar retail scene gets immersive, courtesy of Bucherer. Fully Bucherer Garden today, you’ll be sure of a big surprise. ‘Masterworks’ is a new exhibition concept launched in horological [...]
Tudor’s new Jura Mountains facility places it at the bleeding edge of watchmaking June 16, 2023 There’s a valley in the Swiss Jura mountains, bordering France, fondly known as ‘Watch Valley’. At the easternmost end you’ll find the gridded Art Nouveau streets of La Chaux-de-Fonds, Europe’s highest city and home to Breitling, Girard-Perregaux, Cartier et al. Drive southwest to equally sleepy Le Locle at the other end and you’ll find Zenith, [...]
Roger Smith pocket watch smashes record at auction June 15, 2023 It may look like a Patek Philippe from the 19th century, but ‘Pocket Watch No.2′ was made between 1992 and 1997 – not by a Swiss atelier, but at the hands of Roger Smith, a Bolton lad, in his parents’ garage. Sold in 2004 to a US collector to fund Roger Smith’s commercial venture on [...]
The XX factor: New military-inspired watches from Breguet June 15, 2023 After five years, Breguet has finally relaunched its iconic pilot’s watch, the Type 20/XX, sure to instantly reopen connoisseurs’ wallets. Two new versions – the military-inspired ‘20’, and a dapper ‘XX’ more suited to civvy street – are each powered by a brand-new flyback chronograph movement, which Breguet has been working on for the past [...]
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 revenues tick past £400m as buyers ‘invest in a rational indulgence’ February 9, 2023 Watches of Switzerland has seen its revenues soar in the three months ending 29 January with the group crediting a demand for luxury watches for the sales boost. The UK-based retailer, which stocks Swiss watches such as Rolex and Tag Heuer, brought in revenues of £407m in its third quarter, up 17 per cent from [...]
Bill Ackman invests £48.8m in luxury watchmaker Bremont January 23, 2023 Bill Ackman has bought a minority stake in British luxury watchmaker Bremont after being a loyal customer for many years. The American billionaire hedge fund manager has invested £48.8m alongside Bremont’s current lead investor private equity fund Hellcat, Bremont announced today. With the new investment from Ackman, Bremont is now valued at around £100m. Ackman’s [...]
Watches of Switzerland backs full-year guidance as luxury demand still buoyant December 14, 2022 Watches of Switzerland has said it is sticking to its full-year guidance for 2023 as there continues to be strong demand for luxury watches. In half-year results, the London-listed retailer said revenue from luxury watches made up 87 per cent of group revenue, with sales growth of 31 per cent versus the previous year. Group [...]
Capital People: Meet the Bond Street watch dealer serving Daniel Craig and the uber-rich December 2, 2022 London watch dealer Raj Jain has an interesting backstory, having bought and sold rare, antique and luxury watches in both the UK and Mumbai since the 1980s. An industry stalwart, he has been based in London’s fabulous and famous Bond Street area for almost three decades with a watch shop that’s “like a museum” but [...]