The Watches of Switzerland Group saw growth in revenue of 8% to a record £1,652 million as of the 52 weeks ended 27 April 2025.
Delivering 16% growth in the US and 2% in the UK, the Group also increased its Adjusted EBIT1 by 12% to £150 million at constant currency and in line with market expectations.
US business continued with a spirited momentum, surpassing $1 billion revenue for the first time, bolstered by the acquisition of Roberto Coin Inc.
On the other hand, the UK has returned to growth as trading conditions have stabilised.
Watches of Switzerland‘s performance in the UK reflects its differentiated business model, with scale and leadership in chosen markets, supported by partnerships with brands across luxury watches and jewelry underpinning sustained growth.
A marketing campaign featuring Dakota Johnson as a global brand ambassador for Roberto Coin launched earlier this month, with Watches of Switzerland expecting this and other pipeline projects to underpin growth ambitions for the brand, including the opening of three mono-brand boutiques.
Other operating highlights for the Watches of Switzerland Group include the six ongoing showroom projects in the UK, following the flagship Rolex boutique opening on on Old Bond Street in March. Of the ribbon cutting, CEO Brian Duffy said: “It is a great example of how we combine our retailing excellence and operational expertise to deliver a fantastic project for our brand partners and clients.”
Duffy goes on to say: “I am proud of the strong performance our team has delivered, underpinned by a significant trading improvement in H2 FY25 with Group revenue 12% vs prior year.
“FY25 was a busy year for the Group as we continued to deliver on our strategy at pace.
“We also delivered three key Rolex projects in the US across Texas, Florida and Atlanta, opened a new Patek Philippe room in Connecticut, and executed a range of additional showroom openings, expansions and upgrades.
“We are increasingly excited about the possibilities for our recently acquired Roberto Coin business in North America.
“Not only has it continued to trade well since acquisition, we see growing potential for this well-recognized brand in the large and growing US luxury branded jewelry market.”
“As we look ahead, whilst we are of course remaining mindful of the broader macroeconomic and consumer environment, including potential US tariff changes, we remain confident in the strength of our diversified business model, our strong pipeline of showroom openings and growth projects, and the resilience of the luxury watch and luxury branded jewelry categories.”
The Watches of Switzerland Group is mindful of the uncertain macroeconomic backdrop, geopolitical developments, potential US tariff changes, and their potential impact on consumer confidence as it enters FY26.