Scots-led luxury watch retailer names new finance chief

Watches of Switzerland, the luxury time-piece retailer run by Scots-born chief executive Brian Duffy, has announced a change of finance boss.

Scotsman Brian Duffy is the chief executive of Watches of Switzerland, which ranks as Britain’s biggest retailer of Rolex, Cartier, Omega, TAG Heuer and Breitling watches. Picture: John Devlin
Scotsman Brian Duffy is the chief executive of Watches of Switzerland, which ranks as Britain’s biggest retailer of Rolex, Cartier, Omega, TAG Heuer and Breitling watches. Picture: John Devlin

The firm, which recently reported strong trading, said Bill Floydd would succeed Anders Romberg as chief financial officer (CFO). Romberg is retiring from the group after seven years in the role.

The effective date of Floydd’s appointment as director and CFO will be announced in due course and Romberg will remain with the group until then. He will leave following a handover period.

Floydd will join the company from Rank Group, the international gaming, leisure and entertainment group, where he has held the role of CFO since November 2018.

Duffy said: "[Bill] brings a wealth of senior financial expertise and leadership qualities, and the group will benefit greatly from his experience.

"On behalf of the board, I would like to thank Anders for the significant contribution he has made to the business as our CFO since 2014, including to our successful IPO in 2019 and subsequent growth as a listed company.

“Personally I would like to add that Anders has been a strong partner to me and has played a key leadership role in the transformation of our business.”

Floydd, a chartered accountant, having qualified with PwC, said: "I am delighted to be joining the Watches of Switzerland Group at such an exciting phase of its growth, and look forward to working closely with Brian, the board and the wider team in continuing to deliver on the group's strategy."

Earlier this month, the group said it was seeing demand outstrip supply with strong UK sales boosted by new boutique openings in Edinburgh.

Releasing a trading update covering the 13 weeks to August 1, the Goldsmiths owner reported group revenue of £297.5 million, up 101.9 per cent in constant currency terms on a year earlier when sales were impacted by lockdown store closures. However, the figure is also 45.8 per cent up on the same period in 2019.

In the UK, where “mono-brand boutiques” selling Omega and Breitling products were recently launched within Edinburgh’s new St James Quarter, “sustained high demand from domestic clientele has continued to drive performance”.

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