USA price hikes announced by Swatch Group

Swatch Group has announced its pricing strategy in response to the 39% tariff imposed on Swiss imports by the USA.

Speaking to the Swiss news outlet NZZ am Sonntag, the company’s CEO Nick Hayek Jr. said that the group will hike its prices in the United States by between 5% and 15%.

“Depending on the brand, we will increase prices in the range of 5 to 15 percent,” he said. “But since we also have a strong presence in Canada and Mexico, there will be opportunities there too for American consumers.”

Hayek Jr. remained resilient about his company’s prospects, despite the panic that has spread across Swiss watchmakers in the face of the imposition of the draconian tariff last month.

“As per the end of August, we were up around 15% in local currency across all brands. Americans are continuing to buy – even after price increases,” he said.

One example to highlight his point was the MoonSwatch Moonshine Gold watch, which now costs $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.

The company had already made its feelings clear when it produced a special edition watch under its Swatch brand called “WHAT IF…TARIFFS?,” which directly mocked Trump’s decision.