The Watch Gallery Reports Strong Growth as Online Luxury Watch Sales Thrive

PR64109

LONDON, Apr,15 /PRNewswire=KYODO JBN/ --

     Watch Gallery, the UK's leading independent retailer of luxury watches,

today announced annual like-for-like sales growth of 13% for the year to

January 31st 2016 and record sales of GBP63 million. Key to the company's

continuing success has been strong online sales growth of 41%, with the web now

accounting for 26% of turnover across both the new luxury and more developed

designer watch online markets.

(Photo: http://photos.prnewswire.com/prnh/20160415/355795 )

    Founded in 2006 The Watch Gallery has quadrupled in size with annual

revenue growth averaging 18% per year for the past nine years, significantly

outperforming the market. The group has invested heavily in its market-leading

website http://www.thewatchgallery.com and partnered with some of the world's

most admired watch companies. Over the last 3 years five leading brands have

chosen The Watch Gallery for their on line launches and the average transaction

value on http://www.thewatchgallery.com has grown to GBP2,000.

    With the ability to browse over 45 luxury watch brands and in excess of

3,500 individual watches featured, http://www.thewatchgallery.com is seen by

over 300,000 unique visitors every month.  "I can think of no luxury retail

store that has 10,000 visitors per day; most physical stores would be pleased

to have 100 customers visit daily.  The key to our success is persuading people

researching on line to then go and purchase from

http://www.thewatchgallery.com. We do this by replicating our in store luxury

experience and service on the web" said David Coleridge, Chairman. As part of

this service proposition, TheWatchGallery.com employs a team of expert watch

concierges to support the customer through the buying process.

    Alongside the world leading online developments, the company has developed

some of the finest luxury and designer stores in the country. Strategically

placed and primarily in London, these service both domestic and international

clients and have succeeded by offering an extensive choice of leading brands

and impartial trusted advice to potential buyers. An additional London concept

store will shortly be opened beside the Royal Opera House in Covent Garden

where the company will be the first to deliver a seamless multi-channel

customer proposition for the luxury watch buyer.

    As a result of its performance Stonehage Fleming Advisory Limited has been

appointed to conduct a strategic review and the company is now conducting a

search for trade partners to help it further expand its business. "We have a

strong, profitable UK business with a winning internet proposition and

excellent growth prospects.  We see this as an excellent basis for

international expansion and this includes a search for a potential partner with

complementary strengths. " said Stephen Murphy, co-founder.

    About The Watch Gallery

    Headquartered in London, with 138 employees, The Watch Gallery operates

some of the UK's most successful luxury watch stores including the iconic

Wonder Room multi-brand watch concession in Selfridges London, two of the

largest Rolex boutiques in Europe including Flagship One Hyde Park,

Knightsbridge and the only multi-brand luxury watch store in Westfield Shopping

centre. The Watch Gallery also manages the online luxury and designer watch

categories for some of the UK's leading generalist retailers, including

Selfridges, John Lewis and Top Shop.

Source: The Watch Gallery