Story Highlight
– Watches of Switzerland to close 28 stores by 2025.
– 15 closures are monobrand stores, mainly in the UK.
– Gatwick’s Tudor and TAG Heuer boutiques now closed.
– Monobrand stores increasingly deemed financially unviable.
– Shift toward larger multibrand showrooms expected in future.
Full Story
Watches of Switzerland Group (WoSG) has undertaken a significant reduction of its retail footprint, decreasing its number of showrooms from 223 to 195 across the UK, USA, and Continental Europe between April 2024 and September 2025. This reduction includes the closure of 28 outlets, with the majority being standalone stores, predominantly located in the UK.
Shoppers passing through Gatwick Airport’s South Terminal witnessed the shuttering of both Tudor and TAG Heuer boutiques this week. In their place, WoSG has suggested that customers explore its Brighton stores for alternative options.
The trend of closing monobrand stores appears to be accelerating. Franchised boutiques for brands such as Omega, TAG Heuer, Breitling, Tudor, Longines, and Grand Seiko are increasingly under review. With the overall count of WoSG stores remaining around 195, it is only logical for each location to continuously validate its operational viability based on revenue generation and strategic importance. Currently, many monobrand stores are failing to meet these criteria.
The recent closure of multiple monobrand locations in Leeds, established collaboratively between Richemont and Signet Jewelers for brands such as IWC and Montblanc, serves as a cautionary example, as these outlets were shuttered in less than two years, returning operations to the original partner, Berry’s Jewellers.
Retail observers note a pervasive visibility of costly monobrand establishments throughout the UK, often with sparse customer traffic. Conversations with industry experts suggest that the longevity of these stores is uncertain. Speculation has arisen about WoSG potentially shutting down all its UK-based monobrand outlets, although flagship locations such as the Rolex store on Old Bond Street in London and the Audemars Piguet joint venture in Manchester are expected to remain operational due to their prominence.
WoSG appears keen to expand successful project formats and understands that the operational dynamics differ between brands managing their own boutiques and retailers running franchise stores. Some brands may opt to maintain flagship locations in prestigious areas like London’s Mayfair, viewing them as vital marketing assets, even if they do not operate at a profit. In contrast, retailers face the burden of these store costs while primarily building brand equity for the watch manufacturers.
The boom in monobrand openings surged during the post-pandemic period of 2022-23, with many facilities established under ten-year lease agreements that include break clauses after five years, indicating an imminent opportunity for some to exit these commitments.
Profitability in luxury watch retail has declined significantly since reaching its peak in 2023. Many owners are now looking to streamline their operations, favouring fewer, larger multibrand showrooms that encompass a variety of high-demand brands.
An illustrative example of this transitional strategy can be seen in the recently reopened Northern Goldsmiths in Newcastle Upon Tyne. Here, WoSG has effectively utilised half of the showroom for fine jewellery while dedicating the other half to Rolex, successfully merging diverse product offerings for varied clientele.
While there will continue to be a market for monobrand boutiques—especially for renowned brands like Rolex and Patek Philippe—this sector is expected to shrink. Future survivors are likely to be those that can co-locate with one another, operating more like multibrand outlets that maximise choices, share staffing, and diminish operational costs.
According to brand websites, the current statistics for the largest monobrand watch networks in Britain are as follows:
– **Breitling**: 26 boutiques
– **Omega**: 22 boutiques
– **TAG Heuer**: 41 boutiques
– **Tudor**: 8 boutiques
(Information as of March 2, 2026.)
