DOWNLOAD THE FREE EXCERPT

2025 has painted a daunting picture for the luxury watch industry. Swiss export growth is flat (-0.1% in H1 2025), raw material prices are soaring to record levels, and Swiss import tariffs from the US are threatening anticipated growth. At the same time, 36% of luxury watch consumers are concerned about the cost of living and inflation, meaning a high-spending audience may well be deterred by rising prices, while aspirational customers could be shut out of the market entirely.

For now, watch consumers appear resilient. Average purchase intent increased by 2 percentage points over the past year, driven largely by Audemars Piguet, Cartier and Zenith. Perceptions of brand heritage and design have increased in line with purchase intent, suggesting that perceived

See Full Page