Pragnell Watches Posts Latest Financials

Pragnell of London, Leicester and Stratford-upon-Avon, are one of the bigger independent watch shop chains in the UK.

The company has posted its latest financial results and they make for interesting reading. Prior to 2020 a substantial amount of business was with EU customers, but after Brexit was finally agreed in early January 2020 Pragnell has replaced nearly all the lost EU consumers with UK based watch buyers. Just shows what can be done if you put the sales effort into the domestic market.

Overall turnover rose 35% in the year ending May 22, to £85m. Worth noting that watch sales to verseas visitor sales have started to recover from their pandemic/lockdown dip in 2020 as well.  Out of the £85m sales, some £66m worth of watches were sold to UK buyers last year.

Rolex, Patek, Breitling, Omega make up the bulk of watch sales in the luxury UK market by value, not by volume.

 

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