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Apr 15, 2016
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The Watch Gallery sales boosted by online shopping

Published
Apr 15, 2016

London-based luxury retailer The Watch Gallery has enjoyed a continued success since its launch in 2006, and last year was no exception. In the 12 months to January 31 2016, the company increased like-for-like sales by 13% to £63 million, boosted by a strong online sales growth of 41%.

The web now accounts for 26% of the company's turnover.


The retailer operates two Rolex boutiques in London - The Watch Gallery


As an operator of some of the UK's most successful luxury watch stores with an online e-commerce platform, The Watch Gallery has quadrupled in size since 2006 with annual revenue growth averaging 18% per year for the past nine years.

The company’s success is strongly tied to its online operations. Offering more than 3,500 different luxury watches, thewatchgallery.com is seen by over 300,000 unique visitors every month. Over the last 3 years five leading brands have chosen this platform for their online launches and the average transaction value has grown to £2,000.

"I can think of no luxury retail store that has 10,000 visitors per day; most physical stores would be pleased to have 100 customers visit daily,” says David Coleridge, chairman. “The key to our success is persuading people researching on line to then go and purchase from http://www.thewatchgallery.com.”

The Watch Gallery has developed and manages some of the finest luxury multi-brand watch stores in the country, including the iconic Wonder Room concession in Selfridges London, two of the largest Rolex boutiques in Europe located at One Hyde Park and Knightsbridge and a luxury watch store in Westfield Shopping centre. A further concept store will shortly be opened beside the Royal Opera House in London’s Covent Garden.

Additionally, the retailer is looking to expand internationally with a trade partner. Stonehage Fleming Advisory Limited has been appointed to conduct a strategic review and lead the search.

“We have a strong, profitable UK business with a winning internet proposition and excellent growth prospects.  We see this as an excellent basis for international expansion and this includes a search for a potential partner with complementary strengths," said Stephen Murphy, co-founder.

The Watch Gallery also manages the online watch categories for UK general retailers such as Selfridges, John Lewis and Topshop.

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