In response to the 39% tariff imposed by President Donald Trump on Swiss imports, Swatch Group (OTC:SWGAY) has announced a price increase of 5% to 15% for its products in the United States.
Swatch To Hike Prices 5–15% Amid Rising US Tariffs
Swatch’s CEO, Nick Hayek, revealed the price hike in an interview with the NZZ am Sonntag newspaper, reported Reuters. Hayek explained that the U.S. tariffs could be offset through transfer prices, margins, and the cost of the company’s products. The price increase will vary by brand, with American consumers also having opportunities in Canada and Mexico.
“Depending on the brand, we will increase prices in the range of 5 to 15%,” Hayek said.
He also noted that Swatch products are sold on many Caribbean cruise ships, often duty-free. Despite the tariffs, Swatch has seen strong performance in the …