For the six months ending 27 October, the company recorded £785 million ($AUD1.565 billion) in revenue, an increase of 3 per cent on a year-on-year comparison.
In the US, sales increased by 8 per cent, contrasted by a 1 per cent decline in Europe. Luxury watch sales account for 83 per cent of the company’s total revenue. CEO Brian Duffy said the company's pricing strategy was well-received among consumers.
“In Q1, we increased showroom stock levels of key brands to enhance displays and client experience, particularly in the US,” he said.
“Price increases from brands in the half have been modest, and this has also positively influenced consumer sentiment.”
In October, Watches of Switzerland acquired the editorial company Hodinkee. Duffy addressed the acquisition, suggesting preserving the publication’s integrity was a priority.
“Hodinkee will continue to have editorial independence as a leading editorial media organisation,” he said.
“This will protect Hodinkee’s impartial journalism, ensuring the continued creation of unmatched editorial content presented through Hodinkee’s unique voice and lens.”
Watches of Switzerland purchased Hodinkee for £11 million ($AUD21.93 million), according to reporting from WatchPro.
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