Watches of Switzerland Group posts record revenue
Watches of Switzerland Group has seen its revenue increase by 7%, or 8% at constant currency rates, to £1.65 billion in the year to 27 April 2025.
While UK and Europe revenue grew by 2% to £866 million, US revenue climbed by 16% to £786 million following the group’s acquisition of Roberto Coin.
Meanwhile, group adjusted EBIT rose by 11%, or 12% at constant currency rates, to £150 million.
However, operating profit declined to £114 million from £120 million in the prior year as pre-tax profit fell by 18% to £76 million.
Watches of Switzerland said demand for key brands, particularly products on registration of interest lists, remains strong, outstripping supply in both the US and UK.
Brian Duffy, chief executive of Watches of Switzerland Group, said: “I am proud of the strong performance our team has delivered, underpinned by a significant trading improvement in H2 FY25 with Group revenue +12% vs prior year.
“Our US business has continued its excellent momentum, surpassing $1 billion revenue for the first time, bolstered by the acquisition of Roberto Coin Inc. The UK has returned to growth as trading conditions have stabilised.
“Our performance reflects our differentiated business model, with our scale and leadership in our chosen markets, supported by long-standing, collaborative partnerships with world-leading brands across luxury watches and luxury branded jewellery underpinning sustained growth.”
Never Miss a Retail Update!Looking ahead, the group said the outcome of US tariff developments remains uncertain.
Duffy added: “As we look ahead, whilst we are of course remaining mindful of the broader macroeconomic and consumer environment, including potential US tariff changes, we remain confident in the strength of our diversified business model, our strong pipeline of showroom openings and growth projects, and the resilience of the luxury watch and luxury branded jewellery categories.”
