Shares in Watches of Switzerland climbed as much as 8% to 778.5p, reaching a three-year high, after reports surfaced that the company’s board has been in discussions with potential acquirers over recent months.
The sharp move underscores the growing appetite among foreign investors for UK-listed assets, particularly in the luxury retail sector, where valuations have remained attractive despite broader market volatility.
The stock’s surge reflects market anticipation of a potential premium offer, with traders pricing in the likelihood of a formal bid.
While the company has not confirmed any specific negotiations, the reports have ignited speculation about who might be behind the interest.
Potential suitors could include private equity firms or larger luxury groups looking to expand their footprint in the UK market.
This development comes amid a broader trend of increased M&A activity in the retail sector, as companies seek to consolidate market share and diversify their portfolios.