Watches of Switzerland was one of many standout retailers of final yr. Surging demand for luxurious watches, abroad enlargement and a robust stability sheet helped its inventory rise 158 per cent to greater than 5 occasions the supply worth when the corporate went public in 2019.
The rally appears set to proceed. Analysts at Barclays level out that the rise in Rolex costs will likely be one other massive win for the group. Richard Taylor reckons greater costs won’t have any impression on gross sales, given the imbalance between provide and demand. He added that it was “encouraging” as Rolex accounts for about 50 per cent of Watches of Switzerland’s income. The bullish observe strengthened investor confidence as shares within the group rose by 94p, or 6.6
