海角视频

The country鈥檚 big spenders are continuing to splash out on expensive watches and jewellery in spite of the cost of living crisis engulfing the nation.

海角视频 retail group Watches of Switzerland said estimated revenues of between 拢1.45 and 拢1.5 billion over the current 22/23 trading year.

It comes on the back of results for the year to May 1, which showed turnover up 40 per to 拢1.24 billion and a doubling of pre-tax profits to 拢126 million.

The business said that it believed the strength of the luxury watch market, with demand outstripping supply, together with its strong business model would continue to support 鈥渟ustainable strong sales growth鈥�.

Its continuing success is in stark contrast to recent headlines on the state of the economy including comments from the boss of Sainsbury鈥檚 who warned that pressure on household budgets 鈥渨ill only intensify over the remainder of the year鈥�.

Watches of Switzerland, which is headquartered in Leicestershire, is the 海角视频鈥檚 biggest luxury watch retailer and includes the Mappin and Webb and Goldsmiths brands in the 海角视频 and Mayors and Betteridge in the US, where sales now make up a third of its turnover.

Chief executive Brian Duffy said: 鈥淭his has been a tremendous year for the group, producing record sales and profits.

鈥淚t is particularly pleasing to have delivered this performance against such strong prior year comparatives, with the expertise and dedication of my colleagues proving invaluable.

"We are undoubtedly operating in a growing segment, but it is our distinctive and proven business model, the strength of our brand partnerships, our international scale, our bold marketing campaigns and our dedication to client service which sets us apart.

鈥淭aken together, these inherent strengths have seen us attract new consumers and continuously gain market share, strengthening our position as the destination for luxury watches and luxury jewellery.

"Our sustained capital investment has continued to support our growth plans. We have seen a strong performance from our recently opened and refurbished showrooms in the 海角视频 and US, and we have big plans for our European business.

鈥淚n addition, I am pleased that a year on from launch, we have donated 拢4.5 million to The Watches of Switzerland Group Foundation, in order to support the communities in which we operate.

"We enter FY23 with strong momentum with consumer demand continuing to outpace supply, and within this environment, we are benefitting from our strength both in showrooms and online.

"Watches of Switzerland is uniquely positioned within a large and growing market, and we look to the future with confidence as we focus on capitalising on the considerable sustainable growth opportunities available to us."

Over the past couple of years the foundation has been helping local communities through foodbanks, homelessness support and helping young people.

As at May 1, the group had 171 showrooms across the 海角视频 and US including 55 dedicated mono-brand boutiques in partnership with Rolex, OMEGA, TAG Heuer, Breitling, TUDOR, Audemars Piguet, Grand Seiko, BVLGARI and FOPE.

It is 海角视频's largest retailer for Rolex, OMEGA, Cartier, TAG Heuer and Breitling watches.