Watches of Switzerland Group has reported its first half financial year 2025 (H1 FY25) results, showing a 3% increase in group revenue to £785m (€948.61m) compared to the previous year. While adjusted EBITDA fell by 7%, the company noted a rise in demand from the US market, despite a slight dip in the UK. Luxury watch revenues dropped by 3% due to one-time rises in showroom stocks, but core brands continued to see strong demand.
Luxury jewellery revenue, excluding Roberto Coin, also decreased by 6%, primarily affected by the US market’s struggles in the bridal category. However, the UK saw a 4% increase in luxury jewellery revenue. Despite this, overall luxury watches’ share of group revenue fell due to Roberto Coin boosting jewellery stocks.
Looking ahead, Watches of Switzerland remains optimistic as the company integrates the newly acquired Roberto Coin business and plans for continued growth. They also highlighted the success of their Rolex Certified Pre-Owned program and their overall pre-owned business growth. The company has also recently partnered with leading global digital platform Hodinkee to strengthen their online sector leadership.
To mark its 100-year anniversary, Watches of Switzerland has collaborated with independent watchmakers Craig and Rebecca Struthers to create a unique Centenary Piece Unique, showcasing a blend of artistry and tradition. Other anniversary pieces, such as the Serpenti Seduttori watch in collaboration with Bulgari, have also been launched to commemorate this milestone.
Craig Bolton, president of Watches of Switzerland Group UK and Europe, expressed excitement about the collaboration with the Struthers and the opportunity to create a timepiece that reflects the values and heritage of watchmaking, uniting traditional techniques with modern innovation.
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