Overview
- Total shipments reached 1.57 billion Swiss francs, with units down more than 13%, according to the Federation of the Swiss Watch Industry.
- China fell 35.6% to 115.3 million francs, while the U.S. declined 23.9% after the 39% levy began on August 7.
- Weakness was broad across materials and price tiers, with watches above 3,000 francs and entry models under 200 francs most affected.
- Swatch Group and Richemont shares slipped in early trading as executives indicated price increases and tighter margins.
- Selective resilience emerged as Italy rose 3.1%, Saudi Arabia jumped about 48%, the U.K. was flat and Hong Kong edged up 2%, while U.S.–Swiss trade talks were described as constructive and Swatch debuted a tariff-themed model sold only in Switzerland.