Business News: Rolex Will Raise U.S. Prices In Response To Tariffs

The Rolex price increases are significant, as the U.S. is the biggest market for the brand. Rolex produces more than 1 million watches per year and is the top-selling Swiss marque in the U.S. by sales. Other Swiss brands, which in addition to the tariff costs are also suffering due to the appreciation of the Swiss franc against the U.S. dollar and rising input costs from a record surge in the gold price, are expected to follow suit.

Omega, the maker of Speedmaster and Seamaster models, is expected to raise prices by an average of 5% beginning May 1, the people familiar with the matter said. Omega is one of the five biggest Swiss brands by sales, according to analysts at Vontobel. 

The Omega price rise comes after parent company Swatch Group AG, whose other brands include Blancpain and Glashutte Original, confirmed last week it was raising prices between 8% and 10% for some brands in response to the tariffs and the strengthening franc against a weak U.S. dollar.

Stay tuned to Hodinkee for more on this developing story.