Swatch to raise prices in U.S. following tariffs, CEO confirms
Swiss watchmaker Swatch Group will increase its prices in the United States by 5% to 15% following the 39% tariff imposed on Swiss imports by President Donald Trump last month, CEO Nick Hayek told the NZZ am Sonntag newspaper.
Hayek explained that the U.S. tariffs could be partly offset through adjustments in transfer prices, margins, and production costs, News.Az reports, citing Reuters.
“Depending on the brand, we will increase prices in the range of 5 to 15 percent. But since we also have a strong presence in Canada and Mexico, there will be opportunities there too for American consumers,” Hayek said.
Swatch products are also widely available duty-free on hundreds of Caribbean cruise ships, he added.
Despite the price increases, Swatch reported strong sales in the U.S., with overall growth of about 15% in local currency across all brands as of the end of August. Last week, the company even launched a special edition watch that playfully references Trump’s tariffs.
Hayek noted the example of the MoonSwatch Moonshine Gold, which now sells for $450, up from $400.
“Naturally, American customers weren’t happy about that, but they also understood that it wasn’t our fault, but rather the result of U.S. policy,” he said.
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