Header Omega Seamaster Diver

Business model

The following characteristics of our Group are considered a key differentiator to our competitors and create a high barrier to entry for new entrants into the market.

How the Group creates value

Brand Partners Iwc Portugieser

We collaborate with our long-standing brand partners to identify distribution opportunities and partner on demand forecasting, as well as on the areas of product launches, store projects, online, clienteling, marketing and learning and development for our colleagues.

Stores Breitling 3

Our well-invested stores are luxurious, open, welcoming, contemporary, spacious, non-intimidating and browsable. The design concept is regularly assessed in order to ensure we continue to appeal to a broad customer demographic and drive high levels of productivity across our estate.

People Wos 1022

Our store colleagues are equipped with the expertise and knowledge to provide an exceptional customer experience through extensive learning and development.  Customer satisfaction is monitored to help drive repeat business and conversion rates.

People: We are a people business with over 2,000 dedicated colleagues working in our stores, head offices and distribution centres in the UK and the US.

Rolex Centenary 1

Bold, impactful marketing focused on digital communications, CRM, client experiences and co-operative activity with brand partners.

Brand Partners Tudor Bb58 Navy

Our multi-channel model spans a well-invested store network, with flagships, regional stores, travel retail and mono-brand boutiques complemented by a leading ecommerce platform.

People Wos 1153

Technology: Our leading-edge IT systems are based on a single SAP platform powering store points of sale, CRM, reporting solutions, live inventory availability and operations.

Merchandising: Dynamic inventory management optimises stock availability, enhances store productivity and in the UK, allows for nationwide coverage, giving us a key competitive advantage.

Retail operations: We aim to continually drive productivity and profitability, with a high level of accountability and performance management.

Repairs 1

High barrier to entry created through national coverage in the UK with a portfolio of 122 stores and a growing presence in the US with 31 stores (as at 1 August 2021).

Fully resourced: Experts in our category through investments focused on Learning and Development and technical capability.

Header Vacheron Constantin Egerie

Financial Performance: all store profitability, leveraging store and central overheads through topline growth, strict investment criteria.

Cash generation: strong, consistent cash generation, fuelled by strict working capital management, with sufficient liquidity to fund growth and to provide for potential acquisition opportunities.

We take a disciplined and data-led approach to capital allocation, aiming to deliver long term sustainable earnings growth whilst retaining financial capability to invest in our business and to execute our strategic priorities.  Proposals for major investment projects are analysed and discussed by senior executives and presented to the Board, prior to decisions being reached.

In response to the significant COVID-19 related disruptions to our stores, we introduced several permanent enhancements such as the “By Personal Appointment” booking system, remote payment options, virtual boutiques as well as further advancing and expanding our CRM and clienteling techniques and our online platform.

Long term relationships with our brand partners, for instance in 2019 we celebrated our centenary with Rolex

£905.1m
FY21 Revenue
19.7%
FY21 Return on Capital Employed
£77.6m
FY21 Adjusted EBIT
2,000+
Number of colleagues
153
Total stores (as at 1 August 2021)
£169.8m
FY21 Cash generated from operations

Highly standardised and scalable platform to facilitate future growth

People Wos 1094
Stores M&W Bond St 01
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