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For a watchmaker, Swatch Group has terrible timing.
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Around 27 percent of the watch group’s sales last year came from the China, Hong Kong and Macau region.
Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.
This week, President Trump’s tariff on Switzerland went into effect, landing levies of 39 percent on every watch the country exports to the US. For some Swiss watchmakers, the threat is existential.
Simone Stern Carbone is Luxury Correspondent at the Business of Fashion. She is based in Zurich and Paris and covers fashion and beauty, with a focus on the dynamic luxury sector.
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