Business News: Swatch Group Hikes U.S. Watch Prices In Response To Rising Swiss Franc and Tariffs
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The U.S. greenback has slumped in response to the financial turmoil attributable to the commerce coverage selections, giving power to currencies such because the Swiss franc. On the similar time, the value of gold, a key enter price for the Swiss watch business, has soared about 10% in a month to file ranges above $3,200 an oz. as traders search for protected havens. Rival Swiss watch teams, together with manufacturers owned by Richemont, LVMH, and Rolex SA, have but to announce value will increase within the U.S. Swatch Group’s transfer to hike costs for some fashions might see different manufacturers observe go well with.
Keep tuned to Hodinkee for extra on this growing story.
