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.
More on Financials
The Latest
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Policies & IssuesDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
