Watches of Switzerland, a leading retailer in the luxury watches and jewelry industry, is gearing up for its highly anticipated London IPO with a target valuation of £660 million. In a bold move, the company aims to raise up to £200 million from potential investors through this initial public offering. With a strong presence in the market, Watches of Switzerland operates under renowned brand names such as Goldsmiths, Mayors, and Mappin & Webb, offering a wide range of high-end watches and jewelry to its discerning clientele.
As part of its IPO plans, Watches of Switzerland is looking to offer its shares within a price range of 250p to 277p, allowing investors to get a piece of the luxury retail pie. The proceeds from the IPO will be allocated towards reducing debt, fueling growth initiatives, and bolstering brand recognition in key markets such as the UK and the US. Notably, the company has been strategically expanding its footprint in the US, with recent store openings and the acquisition of Mayors in 2017.
In a bid to capitalize on its success and further solidify its position in the industry, Watches of Switzerland is gearing up to list on the main market of the London Stock Exchange with a premium listing. The company plans to offer at least 25% of its business to the public, with private equity giant Apollo Global Management poised to sell a portion of its stake while retaining control of the group.
In its latest financial report for the fiscal year ending April 2019, Watches of Switzerland reported a robust 22.5% revenue surge, totaling £773 million. This impressive growth can be attributed to strong sales of luxury watches in both the UK and US markets, underscoring the brand’s popularity and profitability.
To learn more about Watches of Switzerland’s upcoming London IPO, investors can visit the official website here. For insights into the luxury retail sector and investment opportunities, check out this informative article here.
