Watches of Switzerland (WoS) Reports Robust Results in First Half of FY25, Highlighting Impact of Roberto Coin Acquisition

Since acquiring exclusive distribution rights for the US, Canada, and Central America in May 2024, the brand has contributed £51 million in revenue

Watches of Switzerland (LON:WOSG) has said that its acquisition of Roberto Coin is having a “good contribution” to the group.

The luxury watch retailer acquired the exclusive distribution rights for the brand in the US, Canada, and Central America in May 2024.

For the first half of fiscal 2025, Roberto Coin contributed £51 million in revenue, which is in line with expectations, Watches of Switzerland said in a statement on Friday.

The integration has progressed smoothly, with strong feedback from retail partners and encouraging sell-out trends, it added.

Watches of Switzerland highlighted elevated displays in its US showrooms, which have bolstered demand, and active discussions for new mono-brand boutiques and shop-in-shop concepts.

The acquisition also strengthens Watches of Switzerland’s presence in luxury jewellery, a key strategic pillar, as jewellery revenue surged by 103% during the six-month period.

Group revenue was £785 million, up 3%, with the second quarter improving to +11% in constant currency from -2% in Q1. Profitability (-39% to £28.9 million) was impacted by the lack of leverage, which will reverse in H2, it noted.

Brian Duffy, Chief Executive Officer of Watches of Switzerland, commented:

“We are pleased to report H1 FY25 revenue growth of +4% in constant currency reflecting an encouraging improvement in trading in Q2, driven by growing demand in the UK and US, and consistent growth in client registration lists, along with the acquisition of Roberto Coin in the period.”

“Our newly acquired Roberto Coin business in North America has traded strongly since acquisition and is now making a good contribution to our Group. Integration is progressing well, and growth plans are underway.”

Watches of Switzerland shares are down about 10% YTD after a strong rally in 2024, when the stock soared by more than 120%. At the time of writing, Watches of Switzerland has a market capitalisation of £720 million.