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US expansion sees Watches of Switzerland climb to the top of private mid-market growth league


The Watches of Switzerland Group today announced that it has topped an annual list of 250 private mid-market growth companies in the UK.

The Group was the only jewelry and watch retailer listed within the UK’s Sunday Times Grant Thornton Top Track 250 league table.

The company’s impressive expansion across America with the backing of private equity firm Apollo is believed to have been a driving force behind the top spot.

Chief executive, Brian Duffy, led the acquisition of US chain Mayors Jewelers last year for $105m, which helped boost sales by 21% to $895.1m in the year to April 2018, with profits rising 36% to $48.5m.

On topping the list, Duffy said: “It is great that we are at the top of this prestigious list. Our business is growing well both organically and through acquisitions in the US. Our teams have done a fantastic job of delivering in the busiest period in our history.”

The 250 companies achieved combined sales of $87.1bn, an 18% increase year-on-year, with record profits of $8.4bn, up 27%, employing a total of 435,000 people, up 10%.



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