Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
FinancialsFeb 10, 2021
Watches of Switzerland Q3 Sales Tick Higher
Though watch sales were strong, jewelry sales sank 20 percent in the third quarter.
A new TAG Heuer store in Roosevelt Field Mall in Garden City, New York is one of the brand’s first franchise boutiques in the U.S. Watches of Switzerland plans to open more mono-brand boutiques in the year ahead.
London—Watches of Switzerland delivered a strong third quarter, driven by growth in the U.S. and a boom in U.K. online sales.
In the third quarter, the company posted £272.6 million ($376.5 million) in total revenue, up 6 percent year-over-year.
Revenue for the first nine months clocked in at £686.8 million ($948.7 million), flat year-over-year.
In the U.S., third-quarter revenue was up 16 percent year-over-year to £86.5 million ($376.5 million). Revenue for the first nine months was up 11 percent to £206.6 million ($285.4 million).
"We delivered another strong performance, driven by continued strong growth in the U.S. and a surge in U.K. online sales, which mitigated the significant headwinds, the extended period of store closures and the continued very low level of international business in the UK,” said CEO Brian Duffy in a press release about the results.
Higher conversion rates at its stores have offset lower traffic in the U.K. and the U.S.
RELATED CONTENT: Watches of Switzerland Opens Jacob & Co. Pop-Up
The luxury watches category climbed double digits in the third-quarter, up 10 percent year-over-year. For the first nine months of 2020, the category was up 3 percent.
Luxury watch sales, which comprise 86 percent of total sales, were especially strong and were not affected by supply disruptions.
The company has set its sights on expansion, opening eight mono-brand stores in the U.S., including two Omega stores, three TAG Heuer stores, and three Breitling stores.
Its Mayors stores in Florida and Georgia and Watches of Switzerland stores in New York performed well, while its Las Vegas stores struggled due to lower domestic tourism.
Domestic sales were strong overall, offsetting a decline in tourist and airport business.
The luxury jewelry category suffered a double digit drop, down 20 percent in the quarter and 18 percent for the first nine months of the year.
Online sales were especially strong, up 121 percent year-over-year, boosted by its “luxury concierge and collect” service, offsetting the impact of store closures.
“Our performance is underpinned by the strengths of our leading multi-channel business model and the uniquely attractive qualities of the luxury watch category, where demand continues to outpace supply,” said Duffy.
Looking to the year ahead, the company is reiterating its full-year guidance despite the U.K.’s national lockdown.
Tax-free shopping for tourists in the U.K. was also stopped as of Jan. 1., a policy the company said it would like to see reviewed.
Its stores in the U.K. are not expected to
open until at least late March 2021, but the company plans to open two mono-brand boutiques in the spring and three more in the summer.
More on Financials
The Latest
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
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.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
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.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
