Key facts
- Watches of Switzerland Group has held talks about potential offers to be taken private.
- CEO Brian Duffy believes the company is undervalued by the stock market.
- No formal offer has been made.
- The company is reportedly seeking an offer of more than £7.50 per share.
- The company reported strong demand from U.S. shoppers and signs of recovery in the UK market.
London-listed Watches of Switzerland Group has engaged in discussions concerning potential offers to take the luxury watch retailer private. The company's shares have seen a significant increase of 55% this year, reaching approximately £7.20, driven by strong demand for high-end watches from brands like Rolex and Cartier. However, these shares are still less than half of their peak in 2022, reflecting a broader slowdown in European luxury sales in recent years.