海角视频

Sales of prestige watch brands such as Rolex, TAG Heuer, Breitling and Omega have shot up according to 海角视频鈥檚 largest luxury watch retailer.

On the same day that the cost of living crisis intensified with inflation hitting 9 per cent 鈥� a 40 year high 鈥� the Watches of Switzerland group said it was seeing record sales and profits.

The Leicestershire-headquartered brand, which has 171 showrooms including Mappin & Webb and Goldsmiths in the 海角视频, and Mayors and Betteridge in the US, said there was no sign of demand slowing.

Chief executive Brian Duffy said global sales for the year to May 1 were up 40 per cent at 拢1.24 billion.

For the most recent three-a-bit months they were up an even better 48 per cent, with demand for luxury watches in both the 海角视频 and US 鈥渃onsistently exceeding supply鈥�.

Despite the gloomy global economic outlook the business now expects sales to reach between 拢1.45 and 拢1.5 billion over the next year.

It is already planning a new Watches of Switzerland flagship showroom in the vast new American Dream shopping and entertainment complex in New Jersey, as well as a showroom in Battersea, London.

It is also continuing the roll-out of its Goldsmiths 海角视频 showroom format and launching a European presence with six single watch brand boutiques in Sweden, Denmark and the Republic of Ireland.

Mr Duffy called it an outstanding year for the group.

He said: 鈥淲e have delivered another record year of revenue and profitability as we continue to progress our long range plan. Our teams have again excelled and done great work.

鈥淲e delivered an outstanding performance in both the US and 海角视频, supported by broad-based sales growth across our portfolio of world leading partner brands and driven by domestic clientele.

鈥淲e were also delighted to announce our forthcoming entry into the European market, which will provide our group with further growth opportunities and geographic diversification.

鈥淭he luxury watch and jewellery markets are dynamic and our group investment-led model continues to gain positive momentum.

鈥淐onsumer desire for 鈥淪uper High Demand鈥� brands (Rolex, Patek Philippe and Audemars Piguet) continues to exceed supply and other luxury watch brands are enjoying exceptionally strong demand and sales. 海角视频 jewellery demand is also very positive.

鈥淟ooking ahead, our FY23 guidance reflects our confidence in our markets and business model.

鈥淲e enter FY23 with visibility of product supply for Super High Demand brands for the remainder of the 2022 calendar year and an exciting programme of new products and marketing from other brands. We have a strong pipeline of showroom projects, and we expect an ongoing recovery in footfall and airport traffic.

鈥淥ur focus will be on continuing to capitalise on the momentum we have built to deliver value for all our stakeholders.鈥�

Today鈥檚 trading update said the business gave staff 50 free shares a few months ago 鈥� currently worth almost 拢500 鈥� and launched an employee share save scheme.