Watches of Switzerland Stays on Track with Expanding Boutiques and Rising Demand

Watches of Switzerland Group has reported a steady start to its financial year, with performance in line with expectations and continued strength in both the US and UK markets.

The company’s latest update for the 18 weeks to the end of August highlights a resilient trading environment, particularly in the US, where growth has held firm despite the prospect of higher tariffs on Swiss imports.

The luxury watch market has remained stable in the UK, carrying forward the momentum seen in the second half of last year. Client demand continues to outpace supply, with registration of interest lists expanding across both regions.

A standout has been the new Rolex flagship boutique on Old Bond Street in London, which has exceeded internal forecasts. The dedicated Rolex Certified Pre-Owned salon has also quickly established itself as a destination for collectors.

Digital sales added to the growth story, especially in the US where an improved ecommerce platform has helped drive momentum.

The certified pre-owned segment is showing strong progress and the group sees considerable room for expansion in this category, which has become increasingly important for both brands and retailers.

The acquisition of Roberto Coin in 2024 is proving a success, with a strong US performance supported by a marketing campaign fronted by actor Dakota Johnson. The brand is now being integrated more deeply into showrooms, with standalone boutiques under construction in Miami, New York and Las Vegas due to open in 2026.

Watches of Switzerland is also pushing ahead with a broad investment programme across its showroom network. Projects include refurbishments of historic sites in the UK, such as Northern Goldsmiths in Newcastle, alongside new openings in the US, including its first showroom in Texas. Luxury jewellery also remains a focus, with the launch of a Mappin & Webb boutique in Manchester and expansion of mono-brand partnerships with major global names.

Looking ahead, management expressed confidence in delivering on its guidance for the year. The potential effect of new tariffs on Swiss watches has been eased by brand partners who increased inventory levels over the summer. With Rolex and other key suppliers showing strong support, the group does not expect a material impact in the first half, though it will review forecasts if conditions shift.

The trading update suggests a business that has built resilience through diversification, from ecommerce to certified pre-owned watches and luxury jewellery. It also highlights the importance of brand relationships at a time when global trade uncertainty could weigh on the sector. Watches of Switzerland is positioning itself as both a trusted retail partner for the major Swiss houses and a curator of its own jewellery offering, which together may help insulate it from volatility.