Watches of Switzerland warns of price hikes over Trump’s tariffs

Watches of Switzerland has warned that Donald Trump’s tariffs hikes of 10% on European Union imports to the US will cause an increase in prices.

The luxury retailer who sells Rolex said some of their “brand partners” in America has already seen “mid-single digit” price increase on their range.

Watches of Switzerland (WoS) said, “The outcome of US tariff developments remains uncertain.

“We are in regular dialogue with our brand partners, but it is too early to comment on the potential sector impact of further changes.

“We will provide a further update as to the potential impact on full year 2025-26 guidance once the situation becomes clearer.”

Brian Duffy, chief executive of WoS, said: “Our US business has continued its excellent momentum, surpassing 1 billion US dollars revenue for the first time, bolstered by the acquisition of Roberto Coin Inc.

“The UK has returned to growth as trading conditions have stabilised.

“As we look ahead, whilst we are of course remaining mindful of the broader macroeconomic and consumer environment, including potential US tariff changes, we remain confident in the strength of our diversified business model, our strong pipeline of showroom openings and growth projects, and the resilience of the luxury watch and luxury branded jewellery categories.”