The watch business in Britain has grown by 65% over the past three years and is now generating sales of £206 million ($257 million), according to a new Bellwether survey commissioned by the Alliance of British Watch & Clock Makers.
The data updates a first bellwether study conducted in 2021, which discovered combined turnover of £125 million by British watch businesses.
Over 140 companies employing around 1,600 people were identified in the research, almost double the number in 2021. Two-thirds of the businesses have been founded since 2015.
All companies are legally headquartered in Britain, but there is no requirement to do any manufacturing, assembly or finishing of watches and clocks in the country.
British companies have been thriving over a period when most industrial-scale Swiss manufacturers have seen sales stall or decline after peaking in 2022.
The three years since the first bellwether survey have also seen the UK economy flatlining.
“This impressive performance proves the sector’s resurgence beyond a doubt” said Mike France, CEO of Christopher Ward and co-founder of the Alliance; “While such huge percentage increases can be characteristic of businesses in early-stage growth phases, the British horological sector has undeniably moved beyond mere revival rhetoric to demonstrate a genuine ability to compete and expand.”
“We’re looking at a compound annual growth rate (CAGR) of 18% over the three-year period. When you consider the macroeconomic headwinds we’ve faced, including supply chain disruptions, high energy costs, as well as inflationary pressures, the sector has outperformed most traditional manufacturing industries, ranking among the fastest-growing specialist manufacturing sectors in the British Isles” added Alistair Audsley, CEO of the Alliance.
More than 75% of all responding companies reported revenue growth over the last three trading years; 42% saw double-digit increases, 30% experienced growth of 300 to 400% and some surged as much as 24-times since inception.
Christopher Ward, alone, has seen sales increase from £13 million to over £45 million since 2021/22. Bremont sales topped £20 million in 2023.
While there is no requirement to manufacture in the UK, businesses are investing in watchmaking skills.
“It’s incredible to see how many new British start up brands are coming in to the sector, bringing fresh ideas and approaches. However, it is essential for British horology to attract enough skilled individuals to sustain this continued growth,” says Britain’s most respected watchmaker Roger Smith OBE. “In supporting this resurgence, one of the Alliance’s key aims is to collaborate with UK educators to nurture talent and open up opportunities. Watch and clock making is not only a fascinating profession—it’s also a rewarding and accessible career path for anyone with the right aptitude and training, as Bellwether II clearly demonstrates.”
The Bellwether study also asked a series of operational questions to gauge the health of the British watch sector.
Key performance indicators show a healthy supply–demand equilibrium, with 60% of companies reporting balanced output and an overall sell-through rate of 98%, indicating strong supply chain efficiency and tight inventory control.
Another 20% have waiting lists or unfulfilled sales
Production capabilities differ widely across the sector, with clear distinctions between watchmaking and clockmaking.
Clockmakers maintain strong vertical integration, with most citing 90–100% in-house horology (averaging 86.4%). This self-sufficiency ensures full control over manufacturing processes and proprietary techniques.
Among the watch businesses, only 35% say they have some degree of in-house production while every company handles design in the UK and around two-thirds prototype in the country.
Most also handle their own fulfilment (91%) and quality control (80%), reflecting a strategic approach that maximizes British input where it adds the most value, the Alliance suggests.
British workers could add value to more of the manufacturing process, but it will take time and relentless investment, according to Mr Smith.
“We believe there’s tremendous potential—not only for sector growth but also for bringing more manufacturing back to Britain. Our main challenge is that we have a ‘lost generation’ from the 1980s and 1990s of skilled people with experience of manufacturing who would have been the mentors of today. However, it’s great to see there are more British watch companies leading the way by producing components in-house and now, with evidence of a growing market, it makes further development of a domestic supply chain a practical goal,” he suggests.
Consumer demand is key, particularly in the UK for homegrown watch brands, and Britain has led the way in promoting independents in this country through events like British Watchmakers Day and WatchPro Salon.
“Growth remains key and, from makers to consumers, watch culture is truly vibrant in Britain today,” says Mr Audsley.
“To see a queue building from 5am for our second British Watchmakers’ Day was notable, but its international composition was something else. With their exceptional creativity, British watch brands are making waves all over the world, but there is still enormous untapped potential in the domestic UK market. It’s vital for us to continue raising awareness that British watchmaking is back on the map, with products for every lifestyle and pocket,” he urges.