US EditionSwatch to Hike Prices in US After Tariffs, CEO Says
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9 Articles
The Star Kuala Lumpur
BizTocSwatch to hike prices in US after tariffs, CEO says
ZURICH: Swatch will hike its prices in the United States by between 5% and 15% after the 39% tariff President Donald Trump imposed on Switzerland last month, the Swiss watchmaker's Chief Executive Nick Hayek said in a newspaper interview.
The watch entrepreneur criticizes how defensive Switzerland is in the customs dispute with the USA. With a 39-percent Swatch he sets a sign against Donald Trump himself. And for the first time he makes a clear statement about whether he wants to take his company off the stock exchange.
The Swatch Group in its current form was founded in 1983, when it also began selling plastic watches of the same name.
Swatch to hike prices in US after tariffs, CEO says - Regional Media News
ZURICH (Reuters) -Swatch will hike its prices in the United States by between 5% and 15% after the 39% tariff President Donald Trump imposed on Switzerland last month, the Swiss watchmaker’s Chief Executive Nick Hayek said in a newspaper interview. Hayek told the NZZ am Sonntag newspaper at the weekend that the U.S. tariffs could be mitigated through transfer prices, margins and the cost of the company’s products. “Depending on the brand, we wil…
The watchmaker criticises the defensive reaction of the Federal Council after the announcement of US customs duties of 39%. He explains to the "NZZ" that he would have done things other than Rolex at the US Open, and also invited Guy ParmelinNick Hayek to go up against the Federal Council. More than a month after the introduction of US tariffs of 39% for Swiss products, the general manager of the Swatch group considers himself "shocked" by the d…
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