Watch chain plots float
BRITAIN’s biggest luxury watch seller is eyeing a float on the london stock Exchange this year as it aims to cut debt and attract more customers.
Watches of switzerland is mulling a premium listing, valuing it at between £600m and £800m, though some sources have said it could be worth as much as £1bn.
The chain, responsible for half of UK Rolex sales last year, has been owned by Us private equity firm Apollo for the past six years.
Chief executive Brian duffy is looking to list in the next couple of months and is aiming to generate turnover of £1bn by 2021. He said: ‘We have been talking to potential investors for some months now and the feedback’s been positive.’