US Edition
Watches Of Switzerland U.S. Sales Hit $1 Billion Amid Tariff Warning
- On July 3, 2025, Watches of Switzerland Group announced that its US sales exceeded $1 billion for the first time, driving a record £1.65 billion in total revenue for the fiscal period concluding April 27.
- This growth was driven by a post-pandemic increase in demand and strengthened by the acquisition of jewelry brand Roberto Coin, despite persistent uncertainties related to American tariffs affecting Swiss goods.
- The group's operating profit fell 5% to £114 million and profit before tax slipped 18% to £76 million amid tariff-driven price hikes and a challenging macroeconomic environment.
- CEO Brian Duffy highlighted that the US operations have maintained strong growth, achieving over $1 billion in revenue for the first time, a milestone supported by the addition of Roberto Coin Inc.
- Watches of Switzerland cautioned that tariff impacts remain uncertain but expects sales growth between 6% and 10%, while maintaining confidence in its diversified business model and showroom pipeline.
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Richemont, Swatch and LVMH export many products to the USA. Not only do they create customs duties.
Watches of Switzerland reports record revenue but profit dip - East Midlands Business Link
Watches of Switzerland has announced a record revenue of £1.65bn for the year ending April 27, marking a 7% increase from the previous year. However, profit before tax decreased by 18%, falling to £76m. The US market proved to be the main growth driver, with revenues climbing by 16%, compared to a modest 2% growth […]
Profits tick lower on Trump tariffs hit - Business Plus
Luxury retailer Watches of Switzerland has warned that its profits could be lower this year because of Donald Trump’s tariff war. It said its earnings margin will be cut by as much as one percentage point in the current financial year due to import taxes. The firm, which sells brands including Rolex and Tag Heuer, said prices in America had already risen by a "mid-single digit" figure in response to Trump’s tariffs. Shares in the London-listed c…
MSN
City AMWatches of Switzerland: Trump tariffs spark hike luxury timepiece prices
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