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THE WATCHES OF SWITZERLAND GROUP Watches of Switzerland Group PLC FY21 Results for the 53 weeks to 2 May 2021 Strong FY21 performance delivers record Group revenue and profitability Well positioned to accelerate strategic delivery plans in FY22 Watches of Switzerland Group PLC ( " the Group " ) today reports its financial results for the 53 weeks ending 2 May 2021 ( FY21 ) . Brian Duffy , Chief Executive Officer , said : " I am delighted to report a year of strong growth . Our performance is testament to the resilience and hard work of our colleagues , good support from our brand partners and our proven model , including our leading online platform and bold , impactful marketing approach . The luxury watch market remains predominantly supply driven with demand exceeding product availability for key brands and models . In spite of the headwinds faced during the year , our teams delivered fantastic results . We generated outstanding growth and strong momentum in the US and are well positioned for future growth . In the UK , where our stores were closed for approximately half the year , we further enhanced our market - leading position . We were pleased to maintain employment and full salaries during the entire year and our performance has allowed us to repay furlough money received in the year . I am delighted that we are launching The Watches of Switzerland Group Foundation , which will provide essential support in the communities where we live and work in the UK and in the US with an initial committed contribution of £ 1.5 million and plans to build this during FY22 and beyond . Trading has remained strong in both the UK and the US since the year - end . Our customer has accumulated disposable wealth and our category is an attractive option . Our growth projections reflect our best estimate of future supply based on our past experience of investment and expansion . The momentum we bring into FY22 underpins our confidence for the financial year ahead . Sustained capital investment will continue to support our growth plans in the UK . Our success in the US proves our model works in this market and we will continue to invest in our stores and new projects , whilst pursuing selective acquisitions at attractive retums in our ambition to become the clear leader in the market . We are confident in our plans to build on our long term track record of sustained growth to capitalise on the significant growth opportunities available . " 1