Watches of Switzerland
A British luxury-watch retailer and flagship retail brand of Watches of Switzerland Group.
Last updated August 26, 2026
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Overview
Watches of Switzerland is a British luxury-watch retailer whose origins date to a shop established in Ludgate Hill in 1924. It is the namesake brand of Watches of Switzerland Group, a multi-brand specialist retailer operating across the United Kingdom, the United States and Europe. The business sells high-end mechanical and quartz watches through Watches of Switzerland stores, brand-specific boutiques and related retail formats operated by the wider group. The company’s history is closely connected with the development and restructuring of British luxury retail. In the late 1970s, entrepreneur Theo Paphitis worked as a sales assistant at the brand’s Bond Street store in London. Watches of Switzerland was acquired by Ratners in 1988 and transferred to Asprey in 1992. In December 1998, Judith Pilkington, then managing director of Mappin & Webb, acquired Watches of Switzerland together with Mappin & Webb. Both businesses subsequently became part of Baugur Group in November 2005 and were combined with Goldsmiths under the Aurum Group structure. Baugur’s insolvency and administration in early 2009 led to a change in control. The retail group was initially controlled by Landsbanki and later acquired by Apollo Global Management in 2013. It operated for a period under the Aurum Holdings name before adopting Watches of Switzerland Group as its corporate identity ahead of the group’s initial public offering on the London Stock Exchange in May 2019. The listed group retained Watches of Switzerland as one of its principal customer-facing brands. The wider group has expanded by acquiring specialist retailers and luxury-jewellery businesses, particularly in the United States. The reference material identifies the acquisition of U.S. retailer Deutsch & Deutsch and the May 2024 purchase of Roberto Coin in the United States. Deutsch & Deutsch stores continue to operate under their established brand, illustrating the group’s strategy of combining a central corporate platform with locally recognized retail identities. Watches of Switzerland Group’s portfolio also includes Mappin & Webb, Goldsmiths, Mayors and Betteridge. Across these brands, the group operates 221 stores in the United Kingdom, the United States and Europe according to the cited reference material. Its network includes 96 dedicated mono-brand boutiques operated in partnership with brands such as Rolex, Omega, TAG Heuer, Breitling, Tudor, Audemars Piguet, Seiko, Bulgari and Fope. The Watches of Switzerland brand is therefore positioned not simply as a general jewelry retailer, but as a specialist luxury-watch distribution and clienteling business. Its offer is centered on authorized retailing of prestigious watch brands, supported by boutique environments, sales expertise and access to high-value products whose availability is often controlled by manufacturers. The brand’s positioning is high-end and service-led, with a focus on luxury consumers, collectors and customers seeking established Swiss and international watchmakers. The group’s Fair Tax Mark certification in 2022 provided a public recognition of its tax-governance practices. The company remains active as a retail brand within the publicly listed Watches of Switzerland Group.
History
Watches of Switzerland traces its origin to a retail business founded in Ludgate Hill in 1924. The brand later became associated with London’s luxury-watch trade, including a Bond Street store where Theo Paphitis worked as a sales assistant during the late 1970s. Its subsequent ownership history reflects the consolidation of British jewelry and watch retail. Ratners acquired the business in 1988, and it was sold to Asprey in 1992. In December 1998, Judith Pilkington acquired Watches of Switzerland from Asprey together with Mappin & Webb. The two businesses entered the ownership of Baugur Group in November 2005 and were grouped with Goldsmiths under the Aurum Group. Baugur’s insolvency and administration in early 2009 resulted in a transfer of control to Landsbanki and, later, Apollo Global Management in 2013. Under Apollo’s ownership, the retail group was briefly known as Aurum Holdings. It later adopted the Watches of Switzerland Group name in preparation for a London Stock Exchange initial public offering in May 2019. The corporate rebranding made the historic Watches of Switzerland name the public identity of a broader luxury-retail group while preserving its use as a customer-facing retail brand. The group expanded through acquisitions and a multi-brand operating model. Its portfolio includes Watches of Switzerland, Mappin & Webb, Goldsmiths, Mayors and Betteridge. It also operates dedicated boutiques in partnership with major watch manufacturers. The reference material describes a network of 221 stores in the United Kingdom, the United States and Europe, including 96 mono-brand boutiques connected with brands such as Rolex, Omega, TAG Heuer, Breitling, Tudor, Audemars Piguet, Seiko, Bulgari and Fope. The group’s U.S. expansion included the acquisition of retailer Deutsch & Deutsch, whose stores continued to trade under the Deutsch & Deutsch name. In May 2024, the group acquired Roberto Coin in the United States, adding a significant luxury-jewelry business to its specialist portfolio. These transactions illustrate a strategy of geographic expansion and category development while retaining established local and international retail identities. Watches of Switzerland is now positioned as a high-end specialist retailer rather than a watch manufacturer. Its business depends on relationships with prestigious watch houses, physical boutiques, knowledgeable sales teams and access to desirable products. The brand’s activities are complemented by the wider group’s jewelry and multi-brand retail operations. In 2022, it obtained its first Fair Tax Mark certification. The group remains publicly listed in London and Watches of Switzerland continues as its namesake retail banner.
- 2024
Roberto Coin acquisition
[1]Watches of Switzerland Group acquired Roberto Coin in the United States in May.
- 2022
First Fair Tax Mark certification
[1]The company received its first Fair Tax Mark certification.
- 2019
London Stock Exchange flotation
[1]The group rebranded as Watches of Switzerland Group ahead of its initial public offering on the London Stock Exchange in May.
- 2013
Apollo Global Management takes control
[1]Apollo Global Management became the controlling owner of the retail group.
- 2009
Change of control after Baugur administration
[1]Baugur became insolvent and entered administration, after which the group came under Landsbanki’s control.
- 2005
Joined the Baugur-owned Aurum structure
[1]Baugur Group acquired Watches of Switzerland and Mappin & Webb and grouped them with Goldsmiths under Aurum.
- 1998
Acquired with Mappin & Webb
[1]Judith Pilkington acquired Watches of Switzerland from Asprey together with Mappin & Webb in December.
- 1992
Transfer to Asprey
[1]The business was sold by Ratners to Asprey.
- 1988
Acquisition by Ratners
[1]Ratners acquired Watches of Switzerland as part of the consolidation of British jewelry and watch retail.
- 1924
Retail business founded in Ludgate Hill
[1]The business that became Watches of Switzerland was established in Ludgate Hill, London.
Products and positioning
High-end, specialist and service-led luxury-watch retail
Luxury watches
Luxury mechanical watches
The core assortment consists of high-value mechanical watches from prestigious international manufacturers. These products include automatic and manually wound models, with the retail proposition emphasizing brand heritage, craftsmanship, technical features, collectability and authorized access.
Luxury watches
Luxury quartz watches
The retailer also sells luxury quartz watches, giving customers access to established brands and designs that prioritize precision, convenience and everyday wear alongside the group’s mechanical-watch assortment.
Specialist retail
Mono-brand boutique collections
The wider group operates dedicated boutiques in partnership with major watch brands, including Rolex, Omega, TAG Heuer, Breitling, Tudor, Audemars Piguet, Seiko, Bulgari and Fope. These locations provide brand-controlled environments and focused product assortments.
Jewellery
Luxury jewellery
Through the wider Watches of Switzerland Group portfolio, customers can also access luxury jewelry, including products associated with Roberto Coin and the group’s other jewelry-led retail brands.
Brand decisions
2024
Acquired Roberto Coin in the United StatesM&ABackground
The group was expanding its U.S. presence and broadening its position in luxury jewelry as well as watches.
Action taken
Watches of Switzerland Group acquired Roberto Coin in May 2024.
Aftermath
Roberto Coin became part of the group’s U.S. luxury portfolio.
2019
Adopted the Watches of Switzerland Group identity before listingStrategyBackground
The broader retail organization had previously operated under Aurum Holdings and needed a unified corporate identity ahead of its public-market debut.
Action taken
The group rebranded as Watches of Switzerland Group while retaining Watches of Switzerland as a major consumer-facing brand.
Aftermath
The group completed an initial public offering on the London Stock Exchange in May 2019 and continued operating a portfolio of specialist retail brands.
Recent events
- 2024
Watches of Switzerland Group acquires Roberto Coin in the United States[1]
M&A
The group purchased Roberto Coin in the United States as part of its expansion in luxury jewelry and related specialist retail.
- 2022
Watches of Switzerland receives Fair Tax Mark certification[1]
Other
The company secured its first Fair Tax Mark certification, recognizing its reported approach to tax transparency and responsible tax practice.
- 2019
Watches of Switzerland Group completes initial public offering[1]
Other
The group adopted the Watches of Switzerland Group identity ahead of its initial public offering on the London Stock Exchange, with Watches of Switzerland remaining a principal retail brand.
Sources2 sources
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