Luxury Watches Of Switzerland Group (LON:) Surges as Company Reaffirms FY25 Guidance
Luxury watch and jewellery retailer, Watches Of Switzerland Group, saw its shares soar on Tuesday after confirming its guidance for fiscal year 2025. The stock was trading 8.6% higher at £408.80, signaling strong investor confidence in the company's performance.
In a recent stock exchange filing, Watches of Switzerland revealed that its trading over the first 18 weeks of the current financial year has met expectations. The company remains on track to deliver its FY25 guidance as it progresses against its Long Range Plan.
The positive outlook is attributed to robust demand for major luxury brands and continued improvements in both the UK and US markets. Demand for luxury products, especially those on Registration of Interest lists, exceeds supply in both regions, indicating a healthy recovery in the luxury watch and jewellery market.
Since acquiring Roberto Coin Inc. in May 2024, Watches of Switzerland has successfully integrated the brand, receiving positive feedback from retail partners and promising initial sell-out figures. The company is also working closely with Roberto Coin to identify growth opportunities in the US market.
Furthermore, Watches of Switzerland is expanding its luxury jewellery portfolio globally, with the launch of David Yurman and Repossi in the UK. The company is also set to open a luxury jewellery boutique in Manchester in April 2025, becoming the exclusive retail partner for various luxury jewellery brands outside of London.
As part of its expansion efforts, Watches of Switzerland has opened new stores in Edinburgh and Greenwich, Connecticut, with plans for flagship boutiques in London and Manchester in the coming months. The company is also set to expand its Plano, Texas location to include a new Rolex agency.
In conclusion, Watches Of Switzerland Group's strong performance and strategic expansion plans make it an attractive investment opportunity for those looking to capitalize on the luxury watch and jewellery market's growth. With a solid foundation in place and a clear vision for the future, the company is well-positioned to deliver value to shareholders and customers alike.
