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Business News

Watchmaker Bremont eyes expansion and a move to UK

Luxury watch brand Bremont, backed by Links of London founder John Ayton, has secured a finance package from HSBC to help it expand internationally to crack the £11bn luxury watch market.

It will target North America, the Far East and the Middle East with a finance package of more than £700,000 from the bank.

Bremont was set up by two former stockbrokers, Nick and Giles English, with backing from Ayton and sells men's watches for up to £12,000.

It will switch its manufacturing from Switzerland to Henley, Oxfordshire, by the end of the year. It currently employs four watchmakers in the UK, and this will grow to 12. Bremont sells online and through 30 UK retailers, as well as 40 in the US.

It opened a store in London's Mayfair during the summer, and retail sales will reach £12m for the current year.