Category: Industry News

Redd Retail has reaffirmed its commitment to the luxury watch industry by sponsoring the Luxury Watch Brand of the Year award at the forthcoming WatchPro Awards 2025. This long-standing partnership, in place since the awards’ inception in 2016, underscores Redd Retail’s expertise in creating luxurious retail environments. The ceremony will take place at 8 Northumberland Avenue, celebrating excellence and innovation in the sector. Notably, Redd’s recent collaboration with FOPE highlights its dedication to enhancing the retail experience through bespoke design solutions.

Prices for Patek Philippe watches in the United States have surged by 15%, largely due to a new average tariff of 41% on Swiss timepieces. While American retailers grapple with lower margins and increased costs—such as the Patek Philippe Cubitus now retailing for nearly $100,000—prices in the UK remain stable. This widening price gap may lead American consumers to consider shopping abroad, especially as 40% of collectors voice concerns over the rising costs and their potential impact on resale values. With luxury brands like Rolex and Cartier not following suit with similar price increases, the luxury watch market faces a period of uncertainty.

Patek Philippe plans to raise prices by 15% in the US starting Monday amid ongoing tariff adjustments affecting Swiss-made watches. This marks the luxury brand’s third price increase this year as it navigates new economic challenges, including a substantial 39% tariff imposed earlier this month. Dealers will see profit margins adjusted to 31%, reflecting the broader impact on both retailers and consumers. A gold Cubitus watch, currently priced at $80,346, could surpass $100,000 with the new pricing structure. Analysts are awaiting confirmation of this increase, which will further highlight the intricacies of the luxury watch market in the wake of changing trade policies.

Favre Leuba has unveiled the Chief Skeleton, marking its first entry into the world of skeletonised watches. Inspired by its iconic 1970s Chief case design, the timepiece showcases an advanced openwork manufacture movement developed with AMT. Available in gold and anthracite variants, each model reveals intricate mechanics through a sapphire caseback. Priced from £3,450, the Chief Skeleton offers a blend of heritage and modernity, complete with customizable rubber straps.