Luxury watches retailer Watches of Switzerland has announced the impending closure of 16 of its showrooms in the UK, placing several positions in jeopardy, according to a report from the BBC.
Watches of Switzerland is giving staff assurances that it will reassign them wherever feasible within the organisation, which currently employs 709 people in support service roles.
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The company has expressed its commitment to its workforce, stating: “…our priority [is] to support all affected colleagues.”
In the most recent financial year, the group expanded with 22 new showrooms, renovated 15 and acquired a further 15 through the acquisition of jeweller Ernest Jones.
A Watches of Switzerland statement was quoted by the BBC: “We continually assess our operations to remain as efficient and productive as possible. Whilst we intend to continue growing our showroom estate organically and by acquisition, following a recent review, we have regrettably made the difficult decision to close 16 showrooms in the UK.
“We have also reviewed our support services to ensure we are operating in the most efficient and productive way to power our retail growth and are regrettably proposing that circa 40 roles will be at risk of redundancy.”
The specific locations of the showrooms affected have not been disclosed.
The development follows the opening of a new flagship Rolex boutique by the retailer on Old Bond Street in Mayfair, London in March 2025.
Watches of Switzerland is headquartered at Carlton Park in King Edward Avenue, Leicestershire and operates 155 UK showrooms.
As of 26 January 2025, the retailer operated a total of 217 showrooms across the UK, the US and Europe, including 95 mono-brand boutiques dedicated to specific brands.
The company’s latest trading update in February 2025 revealed satisfactory performance during the holiday season in both the UK and US markets. This performance contributed to a third-quarter fiscal year 2025 outcome that met expectations.
Watches of Switzerland Group maintains confidence in achieving its financial targets for the fiscal year 2025.
