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Watches of Switzerland Sales Double Amid Rising Demand, CEO Remains Cautious  August 17, 2022 (0 comments)

Watches of Switzerland New York

Braunstone, England--Luxury watch retailer Watches of Switzerland revealed first-quarter sales for 2022. As per a report, the numbers highlighted that its sales had more than doubled than the same period in the previous year.

[Image via Watches of Switzerland]

The report said that the UK's biggest Rolex seller's revenue in the quarter to August 1 was £297.5 million — up 101.9% and 45.8%, respectively, at constant currency levels from the same periods in 2020,

The company's CEO, Brian Duffy, said that demand continues to outstrip supply for an increasing number of key brands" including Rolex and Patek Philippe.

But it's not time to settle down. In another interview, Duffy said that the company expects a more challenging trading environment in the latter half of the year. "[W]e can't ignore that the world has a concern about economy, cost of living, inflation," Duffy said in the interview. "It will impact consumer sentiment."

Read more in the entire report.

Read Duffy's interview with Reuters.

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