Briton in Russia revives Soviet-era watches for luxury market and Putin

David Henderson-Stewart took over the Raketa watch factory near St Petersburg in 2010 and shifted it toward higher-end, Russian-made watches; public records show Raketa posted profit of 109 million roubles in 2025.

David Henderson-Stewart, a British former lawyer, took over the Raketa watch factory outside St Petersburg with a partner in 2010 and steered it toward higher-end, Russian-made watches. The facility traces industrial roots back to 1721 and now employs over 200 people. Many mechanical parts are still made in-house on refurbished machinery. The factory's bespoke offshoot, Imperial Peterhof, was seen on President Vladimir Putin and that visibility helped raise interest in the brand. Key facts: - Raketa once employed about 7,000 workers and produced timepieces for astronauts and the mass market. - Public records show Raketa posted profit of 109 million roubles in 2025, more than 15% higher than in 2024. - The company says it produces most mechanical components itself and was little affected in its supply chain. - The factory now has over 200 employees working with refurbished equipment to make cogs, wheels and springs. - Raketa watches are priced roughly from $700 to $3,500 and are largely based on Soviet-era designs, including the Baikonur model. Summary: Raketa's shift toward luxury and emphasizing "Made in Russia" coincided with stronger domestic demand after 2022 and continued sales in some international markets. The brand recorded profit growth in 2025 and public visibility, including the president wearing an Imperial Peterhof model, contributed to renewed interest. Undetermined at this time.