Watchfinder grows revenue but losses persist amid challenging market conditions
Watchfinder.co.uk, a luxury pre-owned watch retailer owned by Richemont, has filed its financial accounts for the year ending in March 2025. The results indicate that while the company experienced growth in revenue, it reported a similar level of operating loss compared to the previous financial period.
The company recorded significant revenue growth, with sales increasing by 18% to just under £110 million. Gross profit also saw a substantial rise, growing by 10% to reach £15.4 million. Despite these positive indicators, the business faced continued challenges regarding profitability. The operating loss for the financial year stood at £12.58 million, which was nearly identical to the previous year's loss of £12.53 million. The net loss for the period was slightly narrower, decreasing to £12.156 million from £12.614 million in the prior year.
These financial figures specifically relate to Watchfinder’s UK operations. The company acknowledged a challenging trading environment throughout the year, citing strong price volatility within the luxury watch market and the broader difficult economic conditions in Britain as factors that impacted its results. Nevertheless, Watchfinder stated it successfully maintained its position as the market leader in pre-owned luxury watch sales in the country.
Looking ahead, the board outlined strategic plans to elevate the brand's positioning and enhance brand awareness. For the current year, the company intends to develop its presence further in key international locations while continuing to expand its UK business through a combination of e-commerce and a physical retail presence.
