Watches of Switzerland is considering an initial public offering in London, stating that it is well placed to capitalise on “significant growth opportunities” in the UK and US after seeing revenues rise by 22.5% in FY19.
Swiss watchmakers Audemars Piguet and Richard Mille are snapping up stakes in their franchised shops, seeking to tighten their grip on the sales network as a growing number of top brands ditch wholesalers.
Swiss watchmaker Patek Philippe is seeing good demand across the world, its president told Reuters on Thursday, playing down industry concerns about a potential slowdown in top luxury goods buyer China.
Online retail giant Ebay has extended its authentication program to watches this week, in a move to limit the number of fake timepieces being sold on its platform, increasing consumer confidence in the items being sold.
Swiss luxury watchmaker Audemars Piguet said it would launch a second-hand business this year, becoming the first big brand to announce plans to tap into a fast-growing market for pre-owned premium watches.