Watches Breitling boss considers US tariffs to be temporary
The head of the Solothurn watch manufacturer Breitling is of the opinion that the introduction of tariffs by the USA will only be of a temporary nature. He sees no reason to act quickly.
04.04.2025, 12:10
SDA
"Of course the tariffs won't help. But the situation is not as dramatic as it seems. Breitling is prepared for it," said CEO Georges Kern in an interview with the news agency AWP. The day before, the Trump administration announced the introduction of tariffs of over 32 percent on Swiss imports.
For Kern, there is no question that his company will now draw up a special plan or quickly send stocks to the USA. He is confident that "things will calm down", especially with the upcoming mid-term elections in November 2026.
It is not clear whether the US government is using the tariffs as leverage to gain negotiating power or whether it is pursuing a different goal, Kern continued.
In his opinion, the US policy also has "very positive aspects": "On the one hand, the US is the most resilient country in the world due to its strong economic dynamism. On the other hand, I hope that the deregulation and de-bureaucratization that are underway will have an imitative effect in Europe."
Ongoing turbulence in the industry
The watch industry is extremely sensitive to the global geopolitical environment, the CEO noted. Since the invasion of Ukraine, there has been a gentle but persistent downturn. Bank Morgan Stanley estimates the Group's revenue last year at CHF 850 million, which corresponds to a decline of 2 percent.
Kern admitted that he had put some employees on short-time working. However, there have been no redundancies. "The market will come back. I don't know when, but it will come back," he assured.
In the meantime, Breitling is well positioned: "We have introduced two new brands, so we will be able to fill the factories again fairly quickly," said the German-Swiss entrepreneur, who has managed the watch company since 2017.
At the end of 2023, Breitling acquired Universal Genève, which is intended to help it regain its former prestige, and in March of this year, the watch manufacturer Gallet from La Chaux-de-Fonds. With these two acquisitions, the watch manufacturer aims to position itself in a broader price range. Headquartered in Grenchen, the company employs 720 people in Switzerland.
