By Leanne Carr2019-12-12T06:00:00
Following a stellar set of maiden interim results since floating in May this year, Watches of Switzerland boss tells Retail Week how the luxury brand continues to stand the test of time.
Watches of Switzerland posted soaring profits and sales during the six months to October 27 – its first half-year results since its IPO earlier this year.
Adjusted profit before tax was up 112% to £26.5m and group revenue jumped 17.3% to £428.7m – on a like-for-like basis sales grew 10.3%.
The impressive results bucked the trend on the high street in both the UK and USA as the luxury watch market remained “robust”, with demand outpacing supply.
As other recent retail stock market debuts such as Footasylum and The Works have struggled to live up their initial promise, how has Watches of Switzerland driven such impressive results – and how does chief executive Brian Duffy plan to maintain momentum?
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