Watches of Switzerland reaffirms outlook after strong festive performance
Watches of Switzerland Group has announced that it performed in line with expectations over its third quarter festive period with “good” trading in the UK and US.
As a result, the luxury watch and jewellery retailer remains on track to deliver its full year guidance.
In a trading update for the 13 weeks to 26 January, Watches of Switzerland said key luxury brands performed well, especially those on waiting lists, as demand outstripped supply in the UK and US markets.
In addition, it has been encouraged by the performance of its pre-owned businesses as well as its Roberto Coin luxury jewellery brand in North America.
Never Miss a Retail Update!Watches of Switzerland acquired Robert Coin last year for $130 million and has also recently bought Hodinkee, the US digital editorial content provider for luxury watch enthusiasts.
During the period, the group saw a further stabilisation in the UK market in both luxury watches and jewellery, while the US market enjoyed “continued momentum”.
At the beginning of March 2025, the group will be opening a flagship Rolex boutique in London’s Old Bond Street as it looks to create a new major destination for Rolex in the UK market.
Looking ahead, Watches of Switzerland Group said: “Given our trading performance over the first nine months of the fiscal year, visibility of supply in both markets, certainty on the timing of key showroom openings, and expectations of new product launches, we remain confident in delivering our FY25 guidance.”
