Rolex Is Raising UK Watch Prices, But Its US Pricing Is Unchanged

Rolex SA, the highest maker of Swiss watches, has raised costs within the UK whereas leaving its US pricing unchanged.

The Geneva-based watchmaker, identified for fashions such because the Submariner and Daytona, elevated costs at sellers within the UK by a median of about 4 p.c to begin the yr, based on a report by analysts at Barclays.

The value will increase have been beforehand reported by Britt Pearce, a UK-based Youtube channel, and by Screw Down Crown, a watch-focused weblog.

A spokesperson for Rolex declined to remark.

Whereas the worth of a Rolex Air King mannequin rose to £6,500 ($8,206) on Jan. 1 from £6,250 in 2023, costs at US sellers have been unchanged, Barclays analysts wrote in a report on Watches of Switzerland Group Plc, the highest vendor of Rolex watches within the UK.

When the watchmaker raises costs it usually does so annually in January. In 2022, main forex strikes spurred Rolex to lift costs twice within the UK, in January and September, because the pound skidded to its lowest degree in opposition to the greenback in a long time. Rolex additionally hiked costs in European international locations twice that yr.

Producing multiple million timepieces a yr, Geneva-based Rolex sells greater than 9 billion Swiss francs ($10.5 billion) price of watches per yr, based on Morgan Stanley estimates. Managed by a basis named for firm founder Hans Wilsdorf, Rolex gross sales account for about 30 p.c of the worldwide luxurious Swiss watch market.

By Andy Hoffman

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