Last month, as part of his frenetic tariff roll-out, Donald Trump hit Switzerland with a 39% import tax – amongst the highest rates in the world. Needless to say, this was not good news for the country’s watchmakers, who collectively shift more timepieces in the US than anywhere else.
But credit where credit’s due, they seem to be taking it in their stride.
Swatch, in typical tongue-in-cheek fashion, reacted with the “WHAT IF … TARIFFS”: a “hopefully limited edition” watch that takes its design cues from “current events unfolding in today’s world”, according to the product page. Out now and available only in Switzerland, the 3 and 9 numerals have been swapped around on the dial in reference to the tax. “The unique details on its dial and battery cover hint at the US tariffs imposed on Switzerland,” continues the brand’s description.
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But it’s not all fun and games. The Swatch Group, the Biel-based marque that owns Swatch, Blancpain, Omega and many other luxury watch brands, has been forced into increasing prices for its American consumers.
“Depending on the brand, we will increase prices in the range of 5 to 15 per cent. But since we also have a strong presence in Canada and Mexico, there will be opportunities there too for American consumers,” Swatch Group Chief Executive Nick Hayek told the NZZ am Sonntag newspaper earlier this week. “As per the end of August, we were up around 15 per cent in local currency across all brands. Americans are continuing to buy – even after price increases,” he said.
He used the recently released MoonSwatch Moonshine Gold as an example, which has risen in price from $400 to $450 in selected Swatch boutiques across the country.
Only four of the original MoonSwatch models are currently available to buy on the brand’s official webstore, and they seem to have increased in price by 5% to $285 – although whether things stay that way, we do not know.
Meanwhile, the same models are available in the UK for £240. You can take a look at the available models here – or make your way to a Swatch shop for the full range (just make sure to check our definitive ranking before you do).