WF&Co turnover to date breaks £100m barrier

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WF&Co, owner of pre-owned watch retailer Watchfinder, has revealed that it has achieved total sales of more than £100 million since its launch in 2002.

The retailer said that it is planning to up the ante quite considerable in the near future with projections to double this figure, which took 12 years to achieve, within the next three years.

WF&Co brand director Lloyd Amsdon said: "This important milestone demonstrates our commitment to setting the standard in the pre-owned market. On current performance we are forecasting to double this figure to £200 million in three years. It is a testament to the drive and expertise of the founders and colleagues, and a excellent excuse for a celebration."

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The company said that it sold almost 7,000 watches in 2013 with average price points sitting at about £3,300. It earlier reported that November had yielded a record month’s trading with sales at the retailer hitting £2.5 million.

WF&Co said that completed transactions through its website were up 25% in 2013 and average basket values had increased 13%. The site registered 4,000 new customers in 2013 and downloads of its quarterly digital magazine The Watch Magazine leapt 43%.

Over the course of the year WF&Co increased its staff numbers from 30 to 50, with new staff allocated to all departments of the business.

The retailer said that several factors had attributed to strong growth at the business in 2013, including the opening of its first bricks-and-mortar boutique, which opened in London’s Royal Exchange, a lucrative partnership with consumer watch show SalonQP, advertising campaigns in the Financial Times and How To Spend It, and improvements at its service centres that allowed it to increase the volume of stock available for sale.

 

 

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