WATCHPRO STATE OF THE NATION REPORT: Time Products (UK) Limited

Time Products UK turnover

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.

The total includes UK sales of £26.5 million and overseas sales of £10.1 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.

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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%.

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.

The top 10 watch businesses in the UK amassed sales of £1.09 billion in 2016, of which Time Products UK accounted for 3.4%.

2016 Vital Statistics

  • Turnover: £ 36.58 million (-4%)
  • Operating Profit: £2.5 million (-36%)
  • Employees: 174

 

Time Products UK operating profit

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