Watches of Switzerland has restructured its top management team due to the impending retirement of its COO Tony Broderick. Craig Bolton has been prompted to oversee the UK unit while David Hurley runs the US arm.
Watches of Switzerland is using the redesigned lower level of its flagship store in New York’s SoHo to host a sneaker and watches exhibition with Stadium Goods as it continues to build its reputation in the US market.
The first set of results from Watches of Switzerland since the company's May IPO have shown just what attracted investors to the business. Pre-tax profit surged and its revenues rose in high double-digits last year.
Watches of Switzerland, the British retail group behind luxury chains including Mappin & Webb and Goldsmiths, made its debut on the London Stock Exchange on Thursday with shares rising by 15% during the morning.
Watches of Switzerland said on Tuesday it planned to raise as much as £200 million from investors in an initial public offering that could give the British group a market valuation of up to £660 million.
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.