Leicester-headquartered luxury watch and jewellery group, Watches of Switzerland, has seen revenues soar in the first half of 2022 with a 31% increase in watch sales and 38% increase in jewellery sales taking group revenues to £765m.
Brian Duffy, Chief Executive Officer, said: “We are pleased to report another quarter of strong trading driven by broad based sales growth across our portfolio of world leading partner brands. Demand remained strong through the quarter and continues to exceed supply, with client registration lists extending as consumers respond to innovative new products, impactful marketing and elevated client service.
“The first half of the year has been a busy period of new showroom openings – including five showrooms at the iconic Battersea Power Station in London and additional mono-brand boutiques across the UK, US and now Europe – together with showroom refurbishments as we continue to invest to elevate the luxury experience for our clients.
“Our strong H1 performance underpins our full year guidance, which we have upgraded to reflect the benefit of foreign exchange movements. Looking ahead, we remain confident in our Long Range Plan objectives, supported by a strong pipeline of expansionary projects as we continue with our strategy of investing for growth.”
The Watches of Switzerland Group Foundation has now also approved charitable donations of £2.7 million to continue to support disadvantaged communities in both the UK and US
