Watches of Switzerland to open Tudor flagship store on Bond Street
Luxury retailer Watches of Switzerland Group has cheered a sales surge, alongside revealing plans to open a new Tudor flagship store on Old Bond Street.
The company will convert its Mappin & Webb Bond Street branch into a standalone Tudor shop.
Watches of Switzerland’s boss Brian Duffy said the brand, which counts David Beckham as an ambassador, has “great momentum and following”.
The retailer, also behind the Watches of Switzerland and Goldsmiths chains, said in the year to April 30 group revenue leapt 25% to £1.5 billion. It was a 19% rise at constant currency levels.
The firm has been boosted as customers invest in luxury time pieces post-pandemic. Duffy said: “Demand remains strong and continues to exceed supply, with client registration lists continuing to grow.”
But the firm did see a more challenging trading environment in the second half. It expects sales growth in the current financial year to be 8 - 11% at constant currency levels.
The chief executive added: “We remain confident in our goals to maintain our leadership position in the UK, become the clear leader in the US, and capitalise on our growth potential in Europe.”