STATE OF THE NATION’S TOP 10 WATCH RETAILERS. No.4: Watchfinder

Prestige pre-owned watch business Watchfinder has been named in the Sunday Times Virgin Fast Track 100 list for the past three years in a row.

A statement accompanying the news in December last year said that the business now has annualised turnover of £120 million, which if confirmed would be almost 50% higher than the £85 million reported in its most recent accounts published at Companies House that cover the financial year ending March 2017.

Watchfinder has been trading since 2002, but spent the first ten years fighting its way to turnover of £16 million and operating profit of £600,000 in 2012.

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The business today is more than five times that size with sales of £85 million and operating profit of £5 million.

 

 

The company says it has sold watches worth more than £450 in its first 15 years and that has provided the foundation and headroom for its current growth.

The service centre in Maidstone is staffed by highly skilled watchmakers who work quickly, efficiently and to standards required by the Swiss.

The financial muscle of the business has been put to good use with high profile sponsorships and other advertising raising the profile of the Watchfinder name. There is more competition in the pre-owned market today, but they face massive barriers to ramp up to the scale of Watchfinder.

VITAL STATISTICS

Turnover: £ 86.65 million (+43%)
Operating Profit: £5.53 million (+66%)
Employees (March 2017): 157
Doors: 7

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