Watches of Switzerland Business Strong, with No Tariff Impact

Sales at Watches of Switzerland have been strong despite tariffs, with customers purchasing more in both the US and UK markets during the first half.

“Performance in both markets is encouraging,” the company said in a trading update last week. “We do not anticipate any material impact from the US tariffs in the first half as brand partners have increased inventories.”

Business during the 18 weeks that ended August 31 has been strong, particularly in the US, with e-commerce sales showing good growth, Watches of Switzerland stated. The company’s Roberto Coin brand, which it acquired last year, has been performing well. The retailer intends to open a further three boutiques under the name, in Miami, New York and Las Vegas, during the third fiscal quarter.

Meanwhile, the flagship Rolex boutique in London has exceeded the company’s expectations.

“We are delighted with the success,” it said. “The response from clients has been excellent and traffic levels and conversion rates are very good. The Rolex Certified Pre-Owned salon on the lower ground floor is fast becoming the destination for Rolex aficionados.”

Watches of Switzerland will report its full results for the first half in December.

Image: A Watches of Switzerland store in SoHo, New York. (Watches of Switzerland)