Including Cartier in this top 10 of UK watch businesses was not clear cut decision because a large percentage of the company’s UK turnover comes from jewellery, fragrance and leather goods.
We opted to include it because Cartier is certainly one of the biggest watch brands in the UK, and sales of its watches do not contribute to the accounts of its parent group Richemont.
Cartier Limited’s turnover also includes sales through its own boutiques in London as well as revenue from selling watches to its network of retailers across the UK.
It is difficult to get any greater insight into the breakdown of Cartier’s business performance because the report accompanying its accounts published by Companies House says that the details are provided to Richemont Group’s headquarters.
If we look at the global accounts for Richemont, they do not break down sales of its various watch, jewellery and other luxury goods brands by country.
What we can see from the accounts over the past seven years is that 2016-17 was a record year for Cartier in the UK with sales up more than 31% to £137.34 million.
Even more impressive is the 380% surge in operating profit to £15.35 million.
The top 10 watch businesses in the UK amassed sales of £1.09 billion in 2016, of which Cartier Limited accounted for 12.6%.
2016 Vital Statistics
- Turnover: £ 137.34 million (+31.4%)
- Operating Profit: £15.35 million (+380%)
- Employees: 171