What is Watches of Switzerland's new annual sales forecast?

Watches of Switzerland has raised its annual sales forecast to a 9%-11% growth on a constant-currency basis.

Which markets are driving the strong sales for Watches of Switzerland?

Strong sales for Watches of Switzerland are being driven by robust demand in the U.S. and U.K. luxury markets.

How are affluent consumers behaving in the current economic climate?

Affluent consumers are continuing to spend on luxury products, despite inflationary pressures and an uncertain economic outlook affecting other income groups.

Home / Business and Economy / Luxury Watch Sales Surge in US & UK

Luxury Watch Sales Surge in US & UK

4 Feb

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Summary

Annual sales forecast raised to 9%-11% from 6%-10%.
Strong demand seen in U.S. and U.K. luxury markets.
Affluent consumers continue luxury spending despite inflation.

Watches of Switzerland has elevated its annual sales forecast, now anticipating a 9%-11% growth on a constant-currency basis. This upward revision, a notable increase from the previous 6%-10% projection, is propelled by substantial demand for luxury watch brands in key markets.

The company reported that the positive momentum established in the first half of the fiscal year was significantly amplified by strong trading during the holiday period. This indicates continued consumer spending, especially among affluent buyers who have maintained their purchasing of luxury goods.

Despite prevailing inflationary pressures and an uncertain economic outlook that impacts lower- and middle-income households, consumers with higher disposable incomes have continued to invest in luxury products. Watches of Switzerland, a prominent retailer of brands such as Rolex, TAG Heuer, and Audemars Piguet, has benefited from this trend in its core markets.