Watches of Switzerland now listed on the London Stock Exchange
Watches of Switzerland has made its IPO on the London Stock Exchange with shares climbing over 15% within hours. The listing means that 40% of the business is now owned by the public, with the group valued at around £650m. Brian Duffy said it was the perfect time for the specialist retailer to float and that the American market presented the best potential to grow as it’s a bigger market than the UK and since WoS started there with a smaller share. He said Watches of Switzerland have hands full with projects in the US already, having recently acquired 15 stores in Florida under the Mayors brand name and two stores in Las Vegas, which will open under the Watches of Switzerland fascia. Duffy also said the retailer would be opening new stores in the next few months, including two in New York, one in Boston and one in New Jersey.