This Is One Luxury Watch Market Switzerland Simply Can’t Afford To Lose

• Watches of Switzerland reports a 15% surge in US sales, worth $825 million AUD, in six months.
• Nearly 60% of company profitability now driven by American buyers, confirming the US as its core market
• Despite tariff scandals and ongoing scrutiny of gifts to Trump, US watch demand remains the strongest in the world

We’ve had quite a bit to say about the United States and its decisions to leverage hefty tariffs against countries like Switzerland and its luxury Swiss exports. We even suggested that America’s taste for luxury might finally be slowing, with more markets opening up in retaliation to Trump’s tariff tactics.

But the numbers don’t lie: Watches of Switzerland just posted a 15% bump in US sales for the first half, translating to more than £409 million (~$825 million AUD) in Rolex, TAG Heuer, and Audemars Piguet walking out the door in six months.

Almost 60% of the company’s total profitability now comes from American buyers alone, making it clearer than ever which flag is keeping the lights on in Geneva.

This momentum continues even as Swiss lawmakers file criminal complaints over glittering “gifts” handed to Donald Trump shortly before he reduced his own crippling tariffs; a Rolex table clock worth up to 25,000 CHF (~$47,000 AUD) and a gold bar possibly exceeding 100,000 CHF (~$188,000 AUD).

The timing raised eyebrows in Bern; the Attorney General is assessing whether any of this qualifies as bribery.

Yet while the diplomats argue and the lawyers get busy, American collectors continue to buy without hesitation; boutiques stay stocked and moving; brand partners quietly celebrate that what was meant to be economic deterrence has instead fortified demand.

The US accounts for nearly 17% of all shipments out of Switzerland; the number one market globally by a comfortable margin.

Even at the peak of uncertainty, American consumers behaved as though nothing had happened. Because if you’ve been waiting the better part of 12 months for a new Daytona, you won’t exactly wait for geopolitics to settle when your number gets called.

Next year, the global luxury market is projected to grow again. Reports suggest that China is warming up; Europe is holding its nerve; but the real weight sits with the United States, where enthusiasm has shifted from hype-driven scramble to confident acquisitions of some of the world’s biggest timepieces.

It’s behaviour we’ve seen elsewhere, too, with Gen-Z shoppers and China’s middle class showing that luxury purchases are better done with conviction rather than impulse, favouring icons with proven cultural clout over a trending novelty that fades before you’ve closed the crown.

Australia is performing well in a similar vein, embracing that an impressive mindset that continues to look at the value proposition of any purchase. Nevertheless, America is still the centre of gravity right now.

It shapes allocations; dictates priorities; and keeps the Swiss waking each morning with grateful accountants. Tariffs, gifts, and political theatre can swirl in the background, but the truth is simple. The American wrist remains the most influential place a Swiss watch can land; everything else is commentary.