The watch dealer Watches of Switzerland Group PLC has completed the financial year 2024/25 ended on April 27 with a turnover of £ 1.7 billion (£ 2.04 billion). This corresponded to growth by seven percent (currency -adjusted +8 percent) compared to the previous year. In the United States, revenues rose by 16 percent, and two percent in Great Britain. A significant improved results in the second half of the financial year were decisive for the increase in sales, in which the proceeds were increased by twelve percent.
The result, which was adjusted for special effects before interest and taxes (EBIT), increased by eleven percent to £ 150, improved to 9.1 percent, and thus corresponded to the market expectations. The exposed operating profit, on the other hand, decreased by five percent to £ 114 million (137 million euros).
CEO Brian Duffy emphasized the strong contributions of both key markets: “Our US business continued its excellent dynamics and, thanks to the takeover of Roberto Coin Inc., has generated sales of more than one billion US dollar for the first time. Great Britain is back on growth course because the trade conditions have stabilized,” he said in a statement. “Our results reflect our differentiated business model. Our size and management position in the markets we have chosen as well as the long -term, partnership -based cooperation with the world’s leading brands for luxury watches and jewelry support our sustainable growth.”
The group is expanding in the USA
A highlight of the company for the company was the opening of the new Rolex flagship boutique in the London Old Bond Street, the results of which exceeded expectations. The group also expanded the Rolex brand’s retail promotion in the USA through new projects in Texas, Florida and Atlanta. In addition, she opened a new Patek Philippe location in Connecticut as well as various other showroom extensions and moderations.
The integration of the recently taken over jeweler Roberto Coin Inc. is positive according to the company. The business with luxury jewelry continues to develop well and offer great potential in the growing US market, the group said.
The group’s second-hand business, including the Rolex Certified Pre-lower program, achieved strong results in both the UK and the USA. In order to further strengthen its digital presence, the Watches of Switzerland Group Hodinkee, a global digital platform for luxury watches, acquired.
Sales with luxury watches increased by two percent in the past year, with the demand for key brands being strong. The turnover with luxury jewelry has a significant increase in a significant increase of 108 percent, which was mainly due to the takeover of Roberto Coin.
Further growth is planned for the current financial year
With a view to the 2025/26 financial year, the Watches of Switzerland Group referred to the uncertain macroeconomic environment, geopolitical developments and possible changes to the US tariffs that could affect consumer trust.
However, the group confirmed that it continued to concentrate on the implementation of its strategy and was optimistic about a number of important projects for the financial year. This includes the Mappin & Webb Luxury Jewellery Boutique in Manchester, the joint venture Audemars Piguet AP House opened in Manchester in May 2025 and several new showroom openings, relocations and extensions in Great Britain and the USA.
This article was used with digital tools translated.
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