Luxury stocks boom as Richemont kicks off reporting season with a bang Retail Luxury stocks across the world have been given a boost by Cartier-owner Richemont’s booming sales figures this morning. Richemont’s report, the first set of luxury results covering the festive season, indicated that the luxury market may finally be recovering from a slowdown that has lasted nearly two years. Revenue from jewellery, Richemont’s biggest division, rose [...]
H Samuel and Ernest Jones owner cuts loss despite £40m sales hit Retail The company behind high street jewellers H Samuel and Ernest Jones significantly cut its loss despite sales falling by almost £40m during its latest financial year. The Birmingham-headquartered business has reported a pre-tax loss of £483,000 for the year to 3 February, 2024, down from the £8.9m loss it posted in its prior 12 months. [...]
Rolex Price Hikes 2025: What They Mean for Collectors and Buyers Retail The watch community has long speculated about whether Rolex would raise its prices in 2025, and now the answer is clear: yes, they have. The adjustments span across nearly all collections, from the utilitarian Submariner and GMT-Master II to the elegant Day-Date and Datejust. While some increases are modest, others are significant—particularly for models featuring [...]
Watchfinder continues in the red as sales tick below £100m January 2, 2025 Watchfinder continued to make a heavy loss during its latest financial year as its sales dipped below the £100m mark. The London-headquartered business, which sells second-hand watches, has reported a pre-tax loss of £12.6m for the 12 months to 31 March 2024. The figure comes after the firm also lost £12m in the prior year. [...]
Watches of Switzerland: Why shares in Rolex seller are on the road to recovery December 5, 2024 Shares in Rolex seller Watches of Switzerland have surged to their highest value since January after the retailer revealed positive half-year results. The Leicester-headquartered group reported a revenue of £785m for the six months to 27 October, 2024, a four per cent rise. In a trading update issued to the London Stock Exchange, Watches of [...]
Watches of Switzerland: US market lifts group sales December 5, 2024 Watches of Switzerland has reported an uptick in revenue growth due to growing demand in the US market despite luxury watch sales stagnating in the UK and Europe. In a trading update to markets today, the luxury watch firm said group revenue for the 26 weeks ending 27 October was up 4 per cent year-on [...]
Rolex becomes title sponsor of major sport league November 21, 2024 Legacy watch brand Rolex has today been announced as title sponsor of SailGP, with the Formula 1 of water now known as the Rolex SailGP Championship. The luxury brand joins the likes of Chanel (The Boat Race) in venturing into title sponsorship agreements in sport. The watchmaker has been associated with SailGP since 2019. The [...]
Falling Rolex prices are fuelling a sales boom November 12, 2024 The holiday season has always been pivotal for luxury watch sales, and this year brings a particularly promising outlook. Contrary to the usual holiday price hikes in many markets, the secondary watch market has seen notable price declines. Over the past year, prices for iconic brands like Rolex have dropped by an average of five [...]
When it comes to luxury watches, the 1990s are back, baby! October 20, 2024 It’s an observation likely to provoke a torrent of below-the-line abuse in watch nerd circles. But here we go: luxury watches as we know and love them owe their existence to a surprisingly modern confluence of circumstances. While the mechanics inside still tick to the tune of 200-year-old technology something happened in the decade that’s [...]
The latest watch news from Swatch, Saint Laurent and more October 20, 2024 The latest goings-on in the world of haute horlogerie, from a back-to-the-future 1970s LED digital to Swatch’s new Mission on Earth range and an actually-futuristic LED analogue DIODE TO JOY In the early 1970s, Girard-Perregaux took it upon itself to develop (at huge cost) its own battery-powered movement, the Calibre 350. Appropriately, the 350 launched [...]