Watches of Switzerland Posts Record $2.4 Billion Revenue Driven by U.S. Shoppers

Watches of Switzerland Group, the largest luxury watch retailer in the U.K. and a top Rolex seller, reported record revenue of $2.4 billion (1.8 billion pounds) for FY26, a 13% increase year-over-year. U.S. sales surged 24% to $1.4 billion, now accounting for over half of total revenue. CEO Brian Duffy attributed the growth to rising stock markets and property values in New York, Las Vegas, and Florida, making wealthy Americans feel optimistic. Luxury watch revenue rose 13% across the U.S. and U.K., while high-end jewelry grew 18% despite soaring gold prices. Pre-owned watch sales increased 22%, buoyed by rising secondary market prices and demand for Patek Philippe Nautilus and Rolex models. Duffy expressed confidence for FY27, citing strong momentum and enduring luxury demand.