The Watches of Switzerland Group is planning a new 海角视频 headquarters to make more space for its continuing expansion.
The group – which includes Mappin & Webb and Goldsmiths in the 海角视频, and Mayors and Betteridge in the States – is working on the plans as part of a £70-£80 million investment in its premises over the next year.
That money includes upgrading a further 40-plus Goldsmiths stores to a new “海角视频” format – following the successful refurbishment of seven so far.
Despite the cost of living crisis, demand for expensive watches from brands such as Tag Heuer, Breitling, Omega and Rolex continues to outstrip supply.
The business has just posted figures showing global sales up 40 per cent last year to £1.24 billion.
It expects sales to reach between £1.45 and £1.5 billion over the next year, with plans for a new Watches of Switzerland flagship showroom in the vast new American Dream retail and entertainment complex in New Jersey, along with a new showroom in Battersea, London.
It is also branching out in Europe with six, single watch brand boutiques in Sweden, Denmark and the Republic of Ireland.
Chief executive Brian Duffy said the business had outgrown its offices in Elland Road, on the Braunstone Frith Industrial Estate just outside Leicester, and at Millfield House, on the nearby Meridian Business Park.
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He said around 500 people worked in the two offices at the moment – up around a fifth on 2019 – and the new site will have room for more.
Globally the business has around 2,500 employees, mostly in its stores, which is up 700 in the last three years.
He said no contracts had been signed, and would not reveal where they planned to move, but said the business was staying in Leicestershire.
Mr Duffy, who spends much of his time in London and the US, told BusinessLive it was time to find a new home fit for such a successful company.
The group is also planning to replace its US base in Fort Lauderdale, Florida, with another site nearby.
He said: “We’ve outgrown the facility in Elland Road, and between that and Millfield House the quality of the environment and workspace does not come close to what we need.
“We’re staying in Leicester, and would never pick anywhere else, but can’t say where we are going at the moment.
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“We will have moved within the next 12 months, if not a little less. We are going to occupy an existing building as a tenant.
“We want to provide a space and facility corresponding to how we have developed as an international, one and a quarter billion pound business.
“It was overdue. We’ve spent quite a bit in recent years on Elland Road but the biggest issue is we’ve just outgrown the space and at the same time want to have something better for the 500 people spread across the two offices.”
Mr Duffy said as the business had grown it had put £4.5 million into a Watches of Switzerland Foundation over the last couple of years helping local communities through foodbanks, homelessness support and helping young people.
The main food bank the group supports in Leicester is the Leicester South Food Bank, helping it expand into a regional distribution centre and with colleagues volunteering there every Friday.
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