According to half-year figures from the Watches of Switzerland Group, Swiss luxury watch sales in the US are holding up well despite continuous high levies on Swiss imports, indicating robust high-end demand.
For the 26 weeks ending October 26, 2025, the UK-listed retailer, the biggest seller of Cartier, Omega, and Rolex watches in the nation, announced group revenue of £845 million (€967 million), up 8% at reported rates and 10% at constant currency.
At constant currency, adjusted earnings before interest and tax increased by 6% to £69 million (€78.9 million). Before taxes, statutory profit increased by 50% to £61 million (€69.78 million). Despite a significant increase in US tariffs on Swiss imports earlier in the year, which raised the price of imported Swiss-made timepieces, this performance.
The demand for some of the priciest Swiss-made timepieces has increased year over year, despite a 15% tariff that remains historically high. The company “delivered a strong first half, with group revenue up 10% in constant currency and good levels of profitability along with strong free cash flow and return on capital employed,” according to CEO Brian Duffy.
The best-performing market was the US market. At constant currency, revenue increased by 20% to £409 million (€467.8 million), making up 59% of adjusted EBIT and 48% of group revenue.
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