Leicester-headquartered Watches of Switzerland Group has praised a “strong” first half of its financial year, driven by growth in the US.
Group revenue at the business, for the 26 weeks to 26 October 2025, reached £845m, up from £785m in the same period of the year prior, as demand for luxury watches remained robust and continued to exceed supply.
The US was the standout performer, with revenue up 20% in constant currency at £409m, whilst UK revenue of £436m was up 2% against the prior year.
Brian Duffy, CEO, said: “We have delivered a strong first half, with Group revenue up 10% in constant currency, showing continued momentum across the Group reflecting the strength of our business model, disciplined strategy execution, and improved market trends.
“The US has been the standout performer, with sales up 20% in constant currency, driven by broad-based growth across brands and categories throughout the period. Investments in our teams, showrooms and digital offer are driving growth, while Roberto Coin is delivering excellent results as we implement our growth acceleration strategy in the first full year of ownership.
“Our UK business performed well despite the challenges facing the UK High Street, with revenue up 2%. The luxury watch market remains stable and our results demonstrate the quality of our brand portfolio and our focus on enhancing showroom productivity and client service. The flagship Rolex boutique on Old Bond Street, the largest in Europe, continues to exceed expectations.
“We delivered strong momentum in the first half of the year and are well placed for the Holiday trading period. While we remain cognisant of economic and geopolitical uncertainties in the second half, including the impact of US tariffs, we are confident in delivering another year of strong sales growth and continued progress in consolidating our leadership in luxury watch and jewellery retailing. We are reiterating our FY26 guidance for the full year.”
