High street jewellery giants struggle to sparkle Retail Growth seems to be hard to come by in almost any industry at the moment, especially as UK business leaders brace for Chancellor Rachel Reeves to deliver her expected tax hikes later this month. But the latest set of financial results for two of the country’s largest jewellery chains has shone a spotlight on the [...]
Swiss watch exports plummet after tariff uncertainty hits sales Retail Swiss watch exports fell significantly in May after anticipation of steep tariffs caused a downturn in the US market. Exports fell 9.5 versus May, according to new figures from the Federation of the Swiss Watch Industry (FH), reversing a recovery in sales that has been brewing since the start of the year. The market for [...]
Uncertain US tariffs put Rolex, Patek Philippe and Omega in a precarious position Retail Swiss watchmakers are nervously awaiting a positive outcome for US-Switzerland tariffs negotiations to avoid throwing the industry into chaos. On July 1, Swiss exports in the US will be slapped with a 31 per cent tariff – that is, unless the country can negotiate a deal before then. “These tariffs… place the international watch trade [...]