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Sandra Halliday Published January 3, 2025 Reading time
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Tough market means another year of losses for Watchfinder

By

Sandra Halliday Published
January 3, 2025

The latest results for Richemont’s Watchfinder business underline the challenges the luxury watches sector has been facing. Its accounts for the year to March 2024, filed at Companies House, show it making another loss.

It was last profitable in the year to March 2022 and the London-based secondhand luxury watch seller saw revenue falling this time to £93.29 million from £101 million in the prior 12-month period.

The company's gross profit increased to £13.98 million from £9.97 million but the operating loss widened from £12 million to £12.5 million and the loss before tax edged up from £12 million to £12.6 million. It also made a net loss for the financial year of £12.6 million, wider than the £11.78 million loss of the previous year.