Controls Share: Company and Brian Duffy

controls share: Its American private equity owner Apollo Global Management is also looking to cash in by selling off some of its 90% stake, according to The Independent. Watches of Switzerland's chief executive, Brian Duffy, said the luxury watch market was an attractive one for investors, with the company's annual growth running at 18% since 2014. On Thursday, Watches of Switzerland, which also owns the Goldsmiths and Mappin & Webb brands, said it was looking to raise cash by selling new shares and would use the proceeds to slash its 260m debt pile. The company, which controls a 35% share of the UK luxury watch market, made an underlying profit of nearly 68m on sales of 746m in the year to the end of January. The company said rivals would find it difficult to replicate such relationships, which took many years to develop. Why bling booms when austerity rises Read more Founded in 1924, Watches of Switzerland has had long-running relationships with leading brands, including Rolex, Patek Philippe, Tag Heuer and Omega. (news.financializer.com). As reported in the news.