The United Kingdom luxury watch market reached approximately USD 1.35 Billion in 2024. The market is projected to grow at a CAGR of 3.20% between 2025 and 2034, reaching a value of around USD 1.85 Billion by 2034.
The demand for luxury watches as status symbols and investment pieces is fuelled by a substantial number of consumers with high disposable income levels. The increase in wealth among high-net-worth individuals and the expansion of the upper-middle class led to a rise in spending on luxury goods, such as watches. Exclusive brand boutiques and luxury retail stores in major cities like London offer consumers accessibility and a premium shopping experience.
The Watches of Switzerland Group, the UK's leading luxury watch and jewellery retailer, broadened its customer reach by launching additional stores in key locations. With an investment exceeding £1.5 million, the group inaugurated three new showrooms in Scotland as part of the initial phase of the £1 billion St James Quarter development in Edinburgh on June 24, 2021.
United Kingdom Luxury Watch Market Growth
The market has experienced a notable shift towards online shopping due to advancements in digital technology and evolving consumer behaviours. The UK's retail sales in 2021 reached £421 billion, marking a 4.5% increase from the previous year. Online sales accounted for 30% of this total, with expectations to rise to 33.5% within the next three years. Approximately 82% of the UK population made at least one online purchase in 2021. Key players in the UK's e-retail market include Amazon, ASOS, eBay, Missguided, N Brown Group, Net-a-Porter, and Very Group. Online platforms offer consumers the flexibility to explore and buy luxury watches at their convenience, a feature that traditional brick-and-mortar stores cannot replicate.The demand for luxury watches as status symbols and investment pieces is fuelled by a substantial number of consumers with high disposable income levels. The increase in wealth among high-net-worth individuals and the expansion of the upper-middle class led to a rise in spending on luxury goods, such as watches. Exclusive brand boutiques and luxury retail stores in major cities like London offer consumers accessibility and a premium shopping experience.
The Watches of Switzerland Group, the UK's leading luxury watch and jewellery retailer, broadened its customer reach by launching additional stores in key locations. With an investment exceeding £1.5 million, the group inaugurated three new showrooms in Scotland as part of the initial phase of the £1 billion St James Quarter development in Edinburgh on June 24, 2021.
United Kingdom Luxury Watch Industry Segmentation
“United Kingdom Luxury Watch Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Product:
- Electronic
- Mechanical
Market Breakup by Distribution Channel:
- Online
- Offline
Market Breakup by Region:
- England
- Wales
- Scotland
- Northern Ireland
United Kingdom Luxury Watch Market Share
Based on product, the market is segmented into electronic and mechanical. The mechanical segment is projected to grow at a CAGR of 3.6% during the forecast period of 2025-2034. A mechanical luxury watch embodies precision, artistry, and sophistication. In contrast to quartz watches that rely on battery-operated mechanisms, mechanical watches are driven by an intricate arrangement of gears, springs, and various components, frequently crafted by hand.Leading Companies in the United Kingdom Luxury Watch Market
Major players are focusing on the adoption of technological advancement to gain a competitive edge in the market.- ROLEX SA.
- The Swatch Group Ltd.
- Bremont Watch Company Limited
- Breitling SA
- LVMH Moët Hennessy Louis Vuitton SE
- Seiko Watch Corporation
- Audemars Piguet
- Richard Mille Group
- Movado Group Inc.
- Bell & Ross SARL
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Europe Luxury Watch Market Overview
6 United Kingdom Luxury Watch Market Overview
7 United Kingdom Luxury Watch Market by Product
8 United Kingdom Luxury Watch Market by Distribution Channel
9 United Kingdom Luxury Watch Market by Region
10 Market Dynamics
11 Competitive Landscape
Companies Mentioned
- ROLEX SA.
- The Swatch Group Ltd.
- Bremont Watch Company Limited
- Breitling SA
- LVMH Moët Hennessy Louis Vuitton SE
- Seiko Watch Corporation
- Audemars Piguet
- Richard Mille Group
- Movado Group Inc.
- Bell & Ross SARL
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 1.35 Billion |
| Forecasted Market Value ( USD | $ 1.85 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | United Kingdom |
| No. of Companies Mentioned | 10 |
