Month: March 2026

Patek Philippe has confirmed it will not introduce a certified pre-owned programme, opting instead to concentrate on crafting new timepieces and enhancing after-sales services. In contrast to Rolex’s successful CPO initiative, Patek’s president, Thierry Stern, emphasized the brand’s commitment to quality and long-term ownership over the burgeoning pre-owned market. With pre-owned sales reaching $2.2 billion last year, the luxury watchmaker may need to reconsider its strategy, particularly as demand for secondary market regulation grows.

Rolex has reported a staggering $26.4 billion in total sales for 2025, driven by sustained demand in both new and secondary markets. While the Swiss luxury watchmaker maintains its dominance—outpacing the combined sales of its seven nearest competitors—challenges persist for other brands in navigating the complexities of secondary market sales. Richard Mille, in contrast, effectively mitigates potential disruptions through controlled distribution strategies. Despite discounted models available within the secondary market, Rolex’s allure remains unshaken, exemplifying the brand’s unique position within the luxury watch industry.

Luxury watch shares have rebounded sharply following President Trump’s remarks on Iran, with Swatch Group and Richemont experiencing increases of 2.25% and 3.15%, respectively. The UAE is now the eighth largest market for Swiss watches, reflecting a growing trend as GCC states imported CHF 921 million worth of timepieces. This recovery comes amid a broader surge in global share prices, easing pressures felt by the luxury sector amid recent geopolitical tensions.

Signet Jewelers has reported annual sales of approximately $6.8 billion for the fiscal year ending January 2026, reflecting a modest increase in same-store sales of 1.2% to 1.3%. The company experienced a notable uptick in sales momentum during the crucial holiday shopping period, aided by its “Grow Brand Love” strategy, which has bolstered its key brands including Kay Jewelers and Zales. Looking ahead, Signet expects positive sales trends to continue into FY26 and beyond, projecting operating incomes between $388 million and $393 million, while foreseeing over $500 million in free cash flow this year.

Shopping centres in Dubai and across the Gulf continue to bustle with activity despite ongoing regional tensions. Senior UAE leaders have shown unwavering support for their citizens, openly engaging with communities as they frequent high-profile venues like Dubai Mall. While reports of attacks circulate, UAE forces have successfully intercepted 93% of incoming drones and 92% of missiles, maintaining a sense of security. Luxury retailers report no disruptions, with the UAE solidifying its status as the eighth largest market for Swiss watches, highlighting its economic resilience in turbulent times.

Swiss watch brands are grappling with price fluctuations driven by rising gold costs, currency strength, and tariffs. In the US, Rolex’s average prices surged by 14.6% as models like the DateJust and Submariner reflected substantial hikes. Conversely, Patek Philippe opted for an 8.6% cut in the US, countering previous tariff impacts. Audemars Piguet and Tudor also adjusted prices, albeit selectively. Despite a decline in luxury watch exports, average selling prices have soared, indicating a significant bifurcation in the market. As economic pressures mount, the industry’s future may hinge on adapting to shifting consumer dynamics.

A unique exhibition devoted to high-end mechanical watches will debut at Westfield White City in London on March 23, 2026. This six-week pop-up will feature rare timepieces from esteemed brands such as Armin Strom and Jacob & Co., emphasizing craftsmanship, innovation, and artistic design. Organized by Bucherer, the showcase expands the Masterworks concept, aiming to foster dialogue among collectors and enthusiasts while celebrating the rich artistry of horology.

The launch of WatchPro’s Women in Watches List 2026 marks a pivotal moment for the British watch industry, spotlighting the exceptional contributions of women across various roles. Celebrating leaders from creative arenas to executive positions, the initiative aims to foster gender diversity and inspire future generations in a sector historically dominated by men. From CEOs to skilled artisans, over ten remarkable women are recognized for their transformative impact, paving the way for a more inclusive industry.

Norqain has reaffirmed its commitment to Soccer Aid for UNICEF, renewing its role as the Official Timekeeper for the 2026 event, which marks the initiative’s 20th anniversary. With over £121 million raised since its inception, this year promises to enhance the brand’s presence in the UK and Ireland. Former England international Gary Neville will play a central role in the campaign, which aims to engage fans and retailers alike. Scheduled for 31 May 2026 at London Stadium, the match is expected to attract 70,000 spectators, including numerous celebrities. Tickets are now on sale.