FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsFinancialsMay 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’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 …
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.
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.
Editors' Picks
Sponsored by
More on Financials
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
