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Watches of Switzerland to close 16 showrooms, dozens of roles at risk
Credits: Watches of Switzerland The Watches of Switzerland (WOS) Group has confirmed to the BBC that it is planning on closing 16 of its showrooms, putting “dozens” of roles at risk. The company, which is partnered with the likes of Rolex, Omega, Cartier and TagHeuer, said 40 people were “expected to leave the business”, with some staff to also be redeployed. In a statement to the media outlet, The WOS Group said: "We continually assess our operations to remain as efficient and productive as possible. "Whilst we intend to continue growing our showroom estate organically and by acquisition, following a recent review, we have regrettably made the difficult decision to close 16 showrooms in the UK. "We have also reviewed our support services to ensure we are operating in the most efficient and productive way to power our retail growth and are regrettably proposing that circa 40 roles will be at risk of redundancy." The exact showrooms set to close have not been publicly disclosed. FashionUnited has contacted The WOS Group for a statement. The news of the showroom closures comes despite the company reporting strong trading for the third quarter of FY25, as the UK watches and jewellery market stabilises and the US market maintains momentum. WOS said that it was therefore confident in achieving its FY25 targets, with financials being driven by upcoming showroom openings and new product launches.
The Watches of Switzerland (WOS) Group has confirmed to the BBC that it is planning on closing 16 of its showrooms, putting “dozens” of roles at risk.
The company, which is partnered with the likes of Rolex, Omega, Cartier and TagHeuer, said 40 people were “expected to leave the business”, with some staff to also be redeployed.
In a statement to the media outlet, The WOS Group said: "We continually assess our operations to remain as efficient and productive as possible.
"Whilst we intend to continue growing our showroom estate organically and by acquisition, following a recent review, we have regrettably made the difficult decision to close 16 showrooms in the UK.
"We have also reviewed our support services to ensure we are operating in the most efficient and productive way to power our retail growth and are regrettably proposing that circa 40 roles will be at risk of redundancy."
The exact showrooms set to close have not been publicly disclosed. FashionUnited has contacted The WOS Group for a statement.
The news of the showroom closures comes despite the company reporting strong trading for the third quarter of FY25, as the UK watches and jewellery market stabilises and the US market maintains momentum. WOS said that it was therefore confident in achieving its FY25 targets, with financials being driven by upcoming showroom openings and new product launches.
