![\"Watches](\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/05\/watches-of-switzerland.jpeg\")
\t\tWatches of Switzerland sells Rolex, Patek Philippe and Omega\t<\/p>\n\t\t\tThursday 14 May 2026 8:00 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tThursday 14 May 2026 8:26 am\n\t<\/p>\n
\t\tWatches of Switzerland sells Rolex, Patek Philippe and Omega\t<\/p>\n
Watches of Switzerland shares surged after the firm revealed record revenue growth, boosted by wealthy Americans flocking to luxury watches.<\/p>\n
The UK\u2019s largest luxury watch retailer hailed a 13 per cent jump in revenue to \u00a31.8bn in the year to May, as revenue climbed by 24 per cent to \u00a31.2bn in its US market alone.\u00a0<\/p>\n
Shares in the FTSE 250 firm jumped by 13 per cent to 600p on Thursday\u2019s open, leaving the stock up 28 per cent in the year so far.<\/p>\n
The watch retailer suffered from Trump\u2019s erratic tariff policy<\/a> in the last 18 months but has managed to capitalise on thriving demand in America, which it says is the world\u2019s largest and fastest growing luxury watch market.<\/p>\n Watches of Switzerland achieved 25 per cent growth in its US retail market. Meanwhile, revenue at Roberto Coin \u2013 the Italian luxury jeweller it owns \u2013 shot up 22 per cent.<\/p>\n \t\tUS revenues surge<\/p>\n The US became the firm\u2019s biggest market \u2013 where revenue jumped to \u00a3927m \u2013 while revenue grew by five per cent in the UK to \u00a3901m.\u00a0<\/p>\n The watch retailer said it has managed to improve its performance in the UK despite consumer confidence dropping<\/a> to a two-year low.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tHerm\u00e8s and Gucci shares tank in \u2018dismal\u2019 week for luxury brands<\/a><\/p>\n Chief executive Brian Duffy hailed a \u201ca major milestone in the world\u2019s largest and fastest growing luxury watch market, achieved in just over eight years from entering the US\u201d.<\/p>\n He said: \u201cIn the UK, performance has improved despite the challenging macroeconomic backdrop, with resilient demand for luxury watches and jewellery.\u201d<\/p>\n Watch seller shrugs off tourism dip<\/p>\n The damage being caused to some luxury titans by the drop-off in tourism caused by the Iran war was revealed last month, when the owners of brands including Gucci, Louis Vuitton and Birkin saw the conflict hit<\/a> their revenues.<\/p>\n But Watches of Switzerland said it will not be dragged down by the conflict, saying it has minimal exposure to tourist consumers and to the Middle East market.<\/p>\n The firm recently acquired Texas-based luxury jeweller Deutsch & Deutsch and said it has seen good performance in its four US locations.<\/p>\n The stores, which primarily trade in Rolex watches, have generated \u00a316m in revenue since the takeover, as the deal pushed Watches of Switzerland\u2019s net debt up to \u00a357m.<\/p>\n The firm was founded in 1924, when Maurice Lane opened its first office in Ludgate Hill, London.<\/p>\n \t\t\t\t\tRead more<\/p>\n