The boss of the Watches of Switzerland Group says demand for luxury watches remains high despite the current economic squeeze. Chief executive Brian Duffy said the year to the end of April was another record 12 months for the group which also takes in the Mappin and Webb and Goldsmiths brands.
Total sales were up a quarter at more than £1.5 billion, helped by US sales growing more than 50 per cent to £653 million, helped in part by the rising price of new posh watches. The Leicester-headquartered business is continuing to roll-out its Goldsmiths luxury format, with refurbishments completed at its showrooms in Cabot Circus, Bristol and at Lakeside, in West Thurrock. Single brand boutiques have opened in partnership with Breitling in Leicester, and Cribbs Causeway, Bristol, while a Tag Heuer boutique has opened in Dublin. It takes the total number of stores around the world to 193.
Big store openings are also being planned including Watches of Switzerland showrooms at the American Dream resort, in New Jersey, opening this month; The Hague in the Netherlands, opening at the end of the year; and at One Vanderbilt, in New York, opening in January 2024.
