Christopher Ward: US sales surge for luxury watchmaker
Sales at luxury watchmaker Christopher Ward jumped by 50 per cent in its latest financial year fuelled by huge growth in the US.
The business, which was founded by Christopher Ward, Mike France and Peter Ellis in 2004, has posted a turnover of £45.3m for the year to 31 March, 2025, up from the £30.5m it achieved in the prior 12 months.
The previous total was itself a huge rise from the £16.8m the firm reported for the year to March 2023.
Christopher Ward’s UK sales increased by 29 per cent in its latest financial year while its international turnover surged by 58 per cent.
In the US, its largest market, the firm’s sales jumped by 66 per cent.
Christopher Ward also increased its headcount from 75 to 108 in the year.
The latest total comes after the company employed 55 people in the year to March 2023.
Christopher Ward ‘challenging what luxury can mean’
France, who serves as Christopher Ward’s chief executive, said: “This was another excellent year.
“With our international growth, particularly in the US, and major investments like our new Maidenhead HQ, we’re laying the foundations for the next chapter – scaling with purpose, pace and a global mindset.”
He added: “We’re proud to be leading the new face of British watchmaking and challenging what luxury can mean.
“With nearly £1m donated to good causes this year, we’re also building something with purpose.
“Our philosophy is simple: if we can, we should – whether that’s giving back, supporting innovation, or challenging the norms of a changing industry.”
Luxury watch theft ‘remains a significant risk’
The results for Christopher Ward come after CityAM reported that the theft of luxury watches remains a significant risk for owners despite the rate of recovery jumping in the last year.
In the first six months of 2025, The Watch Register located 607 lost and stolen watches through its global database, a 26 per cent increase on the same period in 2024, the company found.
Watch thefts have been on the rise despite overall robbery rates falling, with at least four stolen watches reported in the capital every day, according to the Met Police, although the body has acknowledged that this number could be “significantly higher” due to a low reporting rate.
The total value of luxury timepieces stolen topped £1.6bn last year, with The Watch Register founder Julian Radcliffe ascribing the spike in thefts to the “ease” of selling and transporting the stolen goods.
Swiss watch brands suffer sales fall
Earlier this month, CityAM also reported that Swiss watch brand Swatch warned its UK profit could continue to shrink as a result of Chancellor Rachel Reeves’ tax hikes.
The business has said the increase in employer’s National Insurance contributions – which were announced in October 2024 and came into effect in April this year – will increase operational costs.
Swatch added that the move could have potential impacts on profitability and business growth.
New accounts for Swatch UK revealed the brand’s pre-tax profit fell from the £11.1m it reported in 2023 to £7.5m in 2024.
The latest total comes after Swatch’s pre-tax profit totalled £23.6m in the UK in 2022.
Swatch’s 2024 figure is the lowest its pre-tax profit has been in this country since the £1.6m it posted in 2020 – a year heavily impacted by the Covid-19 pandemic.
The accounts also revealed that the brand’s turnover declined in 2024 from £218.1m to £193.7m.
Earlier this month, Watches of Switzerland warned scores of its products in America will see price increases due to President Trump’s 10 per cent tariff on non-US goods.
The London-listed company, which sells luxury timepieces from Patek Philippe, Rolex, and Audemars Piguet – amongst others – said the price increases from partners were in the mid-single digits so far.
The firm said the long-term impact of the tariffs “remained uncertain”.
At the same time, the group revealed its revenue increased by eight per cent to £1.6bn in the year to 27 April, driven by US growth of 16 per cent.