Sekonda owner’s sales dip by just 4% despite plunge in sub-£500 watch market

sekonda

Sekonda sells more watches in the UK than any other brand, and its owner has weathered difficult headwinds in 2016 to post sales of £36.6 million.

Time Products (UK) Limited, which owns and distributes Sekonda as well as Accurist and Limit watches, says it sold well over two million Sekonda timepieces in its latest financial year, which ended January 31, 2017.

The total includes exports as well as domestic sales. UK-only sales are not reported.

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Time Products UK Limited Turnover Time Products UK Limited Operating Profit

 

Turnover of £36.6 million is just 4% lower than the £38.2 million figure in 2015-16, and comfortably outperforming the overall market for watches priced at under £500, which fell last year by over 14%, according to analysis by GfK.

 

Percentage change in value of watch sales under GBP500 2011 - 2016

“The company’s Sekonda brand in the leading brand in the UK in volume terms, selling well over 2 million watches in the current year,” the company says in accounts published this week at Companies House.

Time Products’ other two brands, Limit and Accurist are also performing well, the company suggests. “The Limit brands is the sixth largest brand in the UK in volume terms and has recently launched in China. In April 2014, the company acquired the business and trade of Accurist Watches Limited. The integration of the brand has been successful and a relaunch programme is ongoing in the UK. Overseas expansion has started with airlines, ferries, and duty free shops,” the company describes.

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