Home Tags State of the Nation
Tag: State of the Nation
WatchPro compiles detailed financial information from Companies House on the biggest watch businesses and subsidiaries operating in the UK.
Breitling UK Ltd wholesale sales dropped by 6% in 2017 but operating profit almost trebled as the business refined its distribution and helped retailers increase sell-through.
Sales for the combined volume and luxury watch businesses of Time Products dipped to £45.1 million in the financial year ended January 31, 2018.
Cartier’s world-wide watch business accounts for around 35% of turnover. If that breakdown is the same in the UK, Cartier watch sales in the UK would be worth £57 million.
Sales at Seiko UK Limited rose by 6% to £77.1 million in the financial year ended March 31, but operating profit fell by almost 40% to £2.2 million as operating costs rose by £5 million.
Swatch Group (UK) Limited, which is responsible for the wholesale and direct to consumer retail operations of all Swatch watch brands in the UK, saw sales rise by 4% to £85 million in 2017.
Fossil (UK) Limited sales fell by 7% in 2017, the third year in a row of contraction.
UK sales for LVMH Watch & Jewellery, which runs wholesale and retail operations for TAG Heuer, Hublot and Zenith, hit £99 million in 2017.
Richemont brands, including Jaeger-LeCoultre, IWC, Baume & Mercier and Vacheron Constantin but excluding Cartier, saw an increase in sales of around £10 million (wholesale) in the UK last year.
Patek Philippe saw sales increase by 9.1% to £155.2 million in the financial year ending January 31, 2018.