Watches of Switzerland expects no material impact from US tariffs in first half
Watches of Switzerland Group has said it does not expect to see any material impact from US tariffs in the first half of its current financial year.
In a trading update ahead of its AGM, the group said it was pleased with its performance in the 18 weeks to 31 August 2025 and that it is on track to deliver a “good” first half in line with expectations.
Subscribe to TRBWatches of Switzerland said it had seen consistently strong trading throughout the 18 week period, particularly in the US, despite the news of increased tariffs on Swiss imports.
The group highlighted the success of its flagship Rolex Boutique on London’s Old Bond Street which is performing ahead of expectations.
It also reported growing ecommerce sales, especially in the US, following the upgrade of its Watches of Switzerland ecommerce site.
Watches of Switzerland said it is planning to grow and develop its Roberto Coin business, which it acquired in May 2024, following strong trading. The group has launched an advertising campaign for the brand featuring Dakota Johnson as global brand ambassador.
In the UK, the group will be opening a new Mappin & Webb luxury jewellery boutique in Manchester on 4 September. During the current financial year, it will also complete a Mappin & Webb Birmingham conversion, a relocation of Goldsmiths Merry Hill, and the expansion of its Goldsmiths store in Oxford.
