Luxury Watch Sales Target Slashed Amid Market Woes

Watches of Switzerland is reportedly adjusting its financial outlook, planning to abandon its previous goal of more than doubling sales and profit by 2028. This strategic shift comes as the luxury market has faced significant downturns since the initial forecast was established. The company's target of surpassing £3 billion in revenue by fiscal year 2028 is now deemed unachievable within the projected timeframe.

While the retailer's core growth plan remains in place, its management, including CEO Brian Duffy, intends to communicate to investors next month that fewer specific, time-bound forecasts will be provided going forward. The luxury goods seller, which retails prestigious brands like Rolex and TAG Heuer, had previously noted a slowdown in sales growth for the 2026/27 period. Watches of Switzerland is scheduled to release its annual financial results on July 14.