Watches of Switzerland Company Limited
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Watches of Switzerland Company Limited - overview
Established
1924
Location
Leicester, -, UK
Primary Industry
Retail
About
Based in the UK, Watches of Switzerland Company Limited operates as a luxury retailer of Swiss timepieces, specializing in both new and pre-owned watches from prestigious brands. Watches of Switzerland Company Limited, founded in 1924 in Leicester, UK, focuses on the retail of luxury watches. The company has engaged in three deals, with the most recent being an EXIT in February 2021, where Apollo Global Management divested its stake for GBP 143 million. The current CEO is Cyril Ng.
Watches of Switzerland specializes in the retail of luxury Swiss timepieces, offering a curated selection from renowned brands such as Patek Philippe, OMEGA, Cartier, Breitling, and TAG Heuer. The company provides both new and pre-owned watches, catering to diverse customer preferences, including passionate collectors and luxury enthusiasts. Key services include personalized shopping experiences facilitated by in-house experts through in-store, telephone, and video appointments, allowing clients to shop conveniently from home or office environments. Additionally, the firm offers financing options, enabling customers to purchase watches with GBP 0 deposits and to spread the cost through monthly payments.
Watches of Switzerland primarily serves markets in the UK but also caters to an international clientele, providing insights and access to some of the world’s finest horological creations. Watches of Switzerland generated revenue of GBP 1,060,123,463. 10 in the most recent year of 2023. The firm reported an EBITDA of GBP 139,966,175.
80 for the same year. Revenue is generated through direct sales of luxury watches and additional services such as watch repairs and aftercare, with a focus on high-value transactions. The company's future growth strategy includes expanding its product range with new luxury timepieces and enhancing its online retail capabilities. Plans for geographic expansion target new markets in Europe and North America by 2024.
The recent funding of GBP 143 million will support these initiatives, particularly in increasing inventory and improving customer engagement through digital channels.
Current Investors
Apollo
Primary Industry
Retail
Sub Industries
Accessories, Retail
Website
www.watches-of-switzerland.co.uk
Verticals
E-commerce
Company Stage
Mature
Total Amount Raised
Subscriber access only
Watches of Switzerland Company Limited - timeline of key events
Watches of Switzerland Company Limited - financials
| Fiscal Year Ended | Jan 31, 2010 | Jan 30, 2011 | Jan 29, 2012 | Feb 03, 2013 | May 04, 2014 | May 03, 2015 | May 01, 2016 | Apr 30, 2017 | Apr 29, 2018 | Apr 28, 2019 | Apr 26, 2020 | May 02, 2021 | May 01, 2022 | Apr 30, 2023 | Apr 28, 2024 | Apr 27, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 246,053,000 | 278,311,000 | 298,297,000 | 314,619,000 | 402,491,000 | 369,506,000 | 404,305,000 | 560,945,000 | 591,472,000 | 608,200,000 | 582,203,000 | 603,430,000 | 806,762,000 | - | - | - |
| % Revenue Growth (YoY) | - | 13.1% | 7.2% | 5.5% | - | - | 9.4% | 38.7% | 5.4% | 2.8% | (4.3%) | 3.6% | 33.7% | - | - | - |
| EBITDA (USD) | 9,433,000 | 14,928,000 | 20,766,000 | 22,355,000 | 15,891,000 | 21,493,000 | 24,129,000 | 41,310,000 | 48,565,000 | 51,231,000 | 41,204,000 | 56,296,000 | 101,919,000 | - | - | - |
| Operating Income (USD) | 5,388,000 | 10,928,000 | 16,648,000 | 17,770,000 | 8,362,000 | 14,862,000 | 9,577,000 | 20,139,000 | 26,492,000 | 32,271,000 | 24,095,000 | 29,501,000 | 72,775,000 | - | - | - |
| Operating Margin | 2.2% | 3.9% | 5.6% | 5.6% | 2.1% | 4.0% | 2.4% | 3.6% | 4.5% | 5.3% | 4.1% | 4.9% | 9.0% | - | - | - |
| % EBITDA Margin | 3.8% | 5.4% | 7.0% | 7.1% | 3.9% | 5.8% | 6.0% | 7.4% | 8.2% | 8.4% | 7.1% | 9.3% | 12.6% | - | - | - |
| NET Income (USD) | 4,257,000 | 22,260,000 | 20,358,000 | 11,440,000 | 2,986,000 | 8,058,000 | 2,599,000 | 15,651,000 | 14,488,000 | 31,893,000 | 26,910,000 | 12,558,000 | 63,564,000 | - | - | - |
| % Net Margin | 1.7% | 8.0% | 6.8% | 3.6% | 0.7% | 2.2% | 0.6% | 2.8% | 2.4% | 5.2% | 4.6% | 2.1% | 7.9% | - | - | - |
Watches of Switzerland Company Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unspecified Exit | Completed | Watches of Switzerland Company Limited | - | ||||||||
| IPO | Completed | Watches of Switzerland Company Limited | - | ||||||||
| Add-on | Completed | Mayor's Jewelers, Inc. | - | ||||||||
| Buyout | Completed | Watches of Switzerland Company Limited | - |
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Watches of Switzerland Company Limited - employee data
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