The Swiss watchmaker has increased prices in its US and UK markets by about 2.5 percent.
on a number of its classic timepieces. The change saw the Oyster Perpetual model, which retailed for $5,900 in 2021, surge to $6,150 at American dealers. The Submariner, another favorite among watch collectors, also saw an insane 10.5 percent jump from $8,100 in 2021 to $8,950 in 2022. These latest increases could signify that the Swiss watchmaker sees lifting prices as a way to protect its profit margins amid rising inflation.
“Investors are well-accustomed to price rises being a key feature of this attractive industry, but it is encouraging to see this continue given that we believe it will have no discernible impact on volumes,” say Barclays analysts Richard Taylor and Pallav Mittal in a note to clients.worth $1 billion.
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