{"id":45671,"date":"2019-02-18T11:09:31","date_gmt":"2019-02-18T11:09:31","guid":{"rendered":"https:\/\/www.watchpro.com\/?p=45671"},"modified":"2019-02-18T11:09:31","modified_gmt":"2019-02-18T11:09:31","slug":"exclusive-research-state-of-the-nations-top-10-watchmakers","status":"publish","type":"post","link":"https:\/\/www.watchpro.com\/exclusive-research-state-of-the-nations-top-10-watchmakers\/","title":{"rendered":"EXCLUSIVE RESEARCH: STATE OF THE NATION’S TOP 10 WATCHMAKERS"},"content":{"rendered":"
Britain\u2019s biggest watch companies increased sales by 9% in their 2017-18 financial years, according to accounts published at Companies House. WatchPro<\/em> has been tracking the financial results of British watch businesses since we launched in 2010. Over that time, the biggest ten companies in the UK have increased sales from \u00a3547 million to \u00a31.1 billion, and the overwhelming majority of that revenue comes from watches sold to retailers at wholesale prices.<\/strong><\/p>\n Rolex has not only confirmed its position as the country\u2019s biggest watch supplier by a considerable margin, it has continued to stretch its lead. With sales in 2017 hitting \u00a3329 million, it represents 29% of the \u00a31.1 billion generated from the biggest ten businesses.<\/p>\n Rolex grew by 23% in the financial year while Patek Philippe, which remains in second place, grew by 9%.<\/p>\n The only company in the top 10 that grew faster than Rolex was Richemont with 30% growth in sales to \u00a3143 million. That figure does not include Cartier, which files its accounts separately to its parent organisation.<\/p>\n Seven of the top 10 grew sales, an impressive achievement in a year that was being compared to 2016-17 when the UK had a massive price advantage for luxury watches over European neighbours thanks to the Brexit vote weakening the value of sterling. Only Fossil Group, Time Products and Breitling saw sales decline.<\/p>\n <\/p>\n