Financials

Watches of Switzerland’s Full-Year U.S. Sales Climb 14%

FinancialsMay 22, 2025

Watches of Switzerland’s Full-Year U.S. Sales Climb 14%

The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.

Watches of Switzerland store in Mall of America
Watches of Switzerland’s store in the Mall of America in Bloomington, Minnesota. The retailer reported 8 percent revenue growth year-over-year in its recent preliminary fiscal year results.
London—Watches of Switzerland Group ended its fiscal year on a high note, with U.S. revenue climbing double digits year-over-year.

Watches of Switzerland Group operates its eponymous stores, monobrand watch boutiques, and jewelry stores across the U.S., U.K., and Europe.

The retailer, which reported its preliminary results on May 15, echoed what luxury conglomerate Richemont said last week—sales were stronger in the second half of the year.

For the fiscal year ending April 27, Watches of Switzerland’s global revenue totaled £1.65 billion ($2.22 billion), up 7 year-over-year (8 percent at constant currency rates).

In the U.S., full-year revenue was up 14 percent (16 percent at constant currency rates) to £786 million ($1.06 billion).

In Q1 of fiscal 2025, the company said it increased showroom stock levels of its key brands to bolster its displays and client experience, particularly in the U.S.

Watches of Switzerland also shared an update on the tariffs situation.

“In the U.S., following a temporary period of consumer uncertainty in response to the initial tariff announcement, we have seen a return to normalized trading patterns in April,” the company said.

“We are cognizant that the U.S. tariff situation is currently unresolved, making it more difficult to predict future U.S. trading patterns”

Demand for its luxury brands remains strong, it said, outpacing supply in both the U.S. and U.K. markets.

It noted a positive consumer response to the new watches introduced following the Watches and Wonders show in Geneva.

Watches of Switzerland said pre-owned watches have performed well in the U.S. and the U.K. while Roberto Coin was a standout among its jewelry brands.

In May 2024, the company announced its $130 million acquisition of the North American arm of Roberto Coin, making it the brand’s exclusive distributor in the U.S., Canada, Central America, and the Caribbean.

“The U.S. luxury jewelry market is the largest in the world and growing strongly,” the retailer said.

“We will continue to build on the momentum we have seen in Roberto Coin Inc., with several exciting growth initiatives, including the launch of a major marketing campaign, secured locations for three mono-brand boutiques, and our e-commerce website upgrade.”

The retailer also acquired Hodinkee last year.

The integration of both companies has been going well, Watches of Switzerland said, adding that it is working on incremental growth plans for both.

 Related stories will be right here … 

The retailer said it completed a number of projects this fiscal year, including several Rolex projects in the U.S., with a few more in the works.

“A highlight for our group in H2 FY25 was the opening of the new flagship Rolex boutique on Old Bond Street, London, in which we were able to bring our retailing excellence and operational strength to bear. Trading since launch has exceeded our expectations,” CEO Brian Duffy said.

The company brought Rolex to its relocated Watches of Switzerland store in Plano, Texas, and refurbished its Mayors showroom in Jacksonville, Florida.

It also converted a former Mayors store in Atlanta into a 3,000-square-foot Rolex boutique.

Watches of Switzerland Group has owned Mayors since 2017 and in 2021, it scooped up a number of independents as it expanded in the U.S. market, including Betteridge.

It recently opened a new Patek Philippe room in Betteridge’s Greenwich, Connecticut, store and expanded the Betteridge location in Vail, Colorado.

As of April 27, Watches of Switzerland had 208 locations across the U.K., U.S., and Europe, including 94 mono-brand boutiques with Rolex, Omega, TAG Heuer, Breitling, Tudor, Grand Seiko, Hublot, Bulgari, and Fope, as well as its e-commerce presence and locations in Heathrow Airport.

It is looking to the fiscal year ahead with a cautious sense of confidence.

“As we enter FY26, although we are mindful of the uncertain macroeconomic backdrop, including potential U.S. tariff changes, we remain confident in the strong fundamentals of the luxury watch category and our differentiated business model in the underdeveloped U.S. market,” the company said.

Watches of Switzerland plans to announce its full-year results on July 3.

The Latest

Nina Pugliese Henne Jewelers
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Overnight volume 7 bridal catalog
MajorsSep 29, 2025
Overnight Releases New Bridal Catalog

The “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.

Mark Henry Leandra Medine Cohen
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in Canada

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

gia-edu main image.png
Brought to you by
A Brilliant Future Is Here

Online education from GIA experts.

Kwait White and Yellow Gold Diamond Earrings
TrendsSep 29, 2025
Amanda’s Style File: Ear Focus

Move over neck mess, the ear story is the way to make a layering statement today.

Weekly QuizSep 25, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Hand holding holiday shopping bags
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard Says

Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Austin Shines Jewelry Award
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

reDollar-fine-jewelry-department.jpg
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment Program

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Kwit Square Signet Pinky Ring in Red and Azure
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky Ring

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

Jewelers of America Fly In
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-In

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

Entrance to Jwaneng diamond mine in Botswana
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers

Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.

Kira Jewels Growing Rowing Machines
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond Production

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

Alex Moss SoHo store
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHo

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

Matthew Wilson, Kavin Kulamavalava, and a Elmasolvex VA
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New York

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

Representatives of India’s Gem and Jewellery Export Promotion Council and Indian government leaders
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into Disarray

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.

Father’s Day diamond advertisement that ran in India
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in India

De Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.

Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term Worries

They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Guest lecture for people with disabilities at the Jewelex factory
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the Industry

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

Greenwich St. Jewelers Estate Capsule Campaign
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate Collection

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

Marcus ter Haar
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-Elect

He previously served as co-chair of the nonprofit’s beneficiary committee.

Jane Goodall Brilliant Earth campaign
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for Peace

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

SRK Kriam Pharma
SourcingSep 24, 2025
SRK Launches Kriam Pharma

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb, CEO of Smart Age Solutions and National Jeweler columnist
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for Jewelers

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

Claire’s storefront
MajorsSep 23, 2025
Ames Watson Completes $140M Acquisition of Claire’s

The private equity firm has a plan to revive the mall staple.

Super Smalls Super Book of Gems, Maria Dueñas Jacobs, and Bianca Gottesman
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine Jewelry

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Mattioli CEO Claudio Pasta
MajorsSep 23, 2025
Mattioli Names Kering Exec as New CEO

Claudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.

Monique Lhuillier fashion jewelry Kay
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers Line

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy