Multi-channel leadership in luxury watch retail
Our purpose is to provide the highest level of customer service by well-trained, expert colleagues in modern, luxurious and welcoming store environments and state-of-the-art online sites, and by partnering with the most prestigious luxury watch and jewellery brands, all supported by leading-edge technology and bold, impactful marketing.
Our competitive advantage
We are the leading luxury watch specialist in the UK with a significant and growing presence in the US.
Our Brand Partners
We have long-standing partnerships with the most recognised and prestigious luxury watch brands which we strive to represent in the best possible way to our discerning customers. We collaborate with the brands across all operational areas of the business including identifying distribution opportunities, partnering on demand forecasting and product development and collaborating closely on all store projects, across the online platform, clienteling initiatives and marketing activities.
Our stores are located in prominent, high-profile shopping areas within the UK and US and feature a spacious, contemporary, inviting, welcoming, high-end luxury feel, further enhancing the prestigious brands which they showcase.
Our estate includes multi-brand stores and mono-brand boutiques in both the UK and the US, supported by a leading-edge ecommerce platform.
In the UK, the portfolio covers the breadth of the market, with representation in most major cities nationwide.
In the US, the Group is primarily represented in Florida and Georgia with Mayors stores and in Las Vegas, New York and Boston with Watches of Switzerland stores. More recently, the Group has entered new markets with its mono-brand boutique format, including Santa Clara, California; King of Prussia, Pennsylvania; and Nashville, Tennessee.
As at 31 October 2021, the Group operated 158 stores.
Located in the most prestigious locations, flagship stores typically feature a more extensive product offering in a larger footprint relative to other stores in the portfolio, as well as dedicated spaces to host special customer events. In the UK, this channel is represented by the “Golden Triangle” Watches of Switzerland stores in central London, comprised of Regent Street, Oxford Street and Knightsbridge. In addition, in FY21 we also opened a new two-storey flagship store in Broadgate, London, in the city’s financial district. In the US, there are two Watches of Switzerland flagship stores located in New York, in Soho and in Hudson Yards, and one in the Wynn Resort in Las Vegas as well as two Mayors flagship stores in the Aventura Mall in Florida and Lenox Square in Atlanta.
The mono-brand boutique format allows for a more tailored and brand-specific environment and has contributed to further strengthening and enhancing our brand partnerships. In FY21, we opened eight mono-brand boutiques in the US across OMEGA, TAG Heuer and Breitling and in the UK, we opened nine mono-brand boutiques across Rolex, Tudor, TAG Heuer, OMEGA and Breitling. As at 31 October 2021, we operated a global network of 46 mono-brand boutiques, including 32 in the UK and 14 in the US.
Travel retail provides high visibility in a prominent setting to a discerning international customer base. The Group maintains a strong presence in Heathrow Airport in Terminals 2, 3, 4 and 5 with Watches of Switzerland stores and Rolex mono-brand boutiques and is present in a Gatwick North Terminal with a Watches of Switzerland store. As at 2 May 2021, the stores in Heathrow Terminal 3 and Terminal 4 remain temporarily closed, due to the COVID-19 pandemic.
Outside London, a well-situated network of premium regional stores in the UK provides scale and national coverage and caters to a more local, domestic customer base. Multi-brand stores across all three fascia (Watches of Switzerland, Mappin & Webb, Goldsmiths) are located in high profile, prominent locations, primarily shopping centres, in cities such as Manchester, Birmingham and Liverpool.
Stores in our US portfolio are predominantly shopped by the domestic customer. The Mayors network is located in Florida and Georgia, with an ongoing store elevation programme. We operate two Watches of Switzerland flagship stores in New York, a market with similar demographics to London but with less investment and higher fragmentation. We are also present in the highly lucrative Las Vegas market with stores located within the Wynn Resort, including a multi-brand store and Rolex, Breitling and OMEGA mono-brand boutiques.
Through our six transactional websites across the UK and the US, we have established an industry-leading ecommerce platform, a key component of our multi-channel strategy. We continue to invest in enhancing the sites and improving the customer experience, through initiatives such as next day delivery, the “By Personal Appointment” booking service, both in-store and virtual, and the introduction of the Virtual Luxury Watch and Jewellery Boutique. The ecommerce platform is built on SAP Commerce, which offers the benefit of a common ERP and ecommerce technology vendor.
We have long-standing, collaborative partnerships with the most recognised and prestigious Swiss luxury watch brands. Our stores are well-invested and feature a spacious, contemporary, inviting, welcoming, high-end luxury feel, further enhancing the prestigious brands which are showcased.
The Watches of Switzerland Group has a history which can be traced back to 1775. Over two centuries later, we are recognised as the UK's leading luxury watch specialist in the UK with a significant and growing presence in the US.
Our values system is deeply ingrained in the Watches of Switzerland Group culture and our recognition programmes. We believe in equality for all and are fully committed to promoting an inclusive culture and diverse workforce.
The Group continues to deliver on its strategic priorities of further expanding its leadership position in the UK luxury watch market and building on the significant presence established in the US.