Swiss Watch Exports Fall 17%; Hong Kong Luxury Sales Up 20%

June 3: Swiss Watch Exports Fall 17%; Hong Kong Luxury Sales Up 20%
Three stories tonight: Swiss watch exports, Hong Kong luxury retail, and the diamond supply picture.
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Tickers covered: UHR.SW | CFR.SW | WOSG.L | MC.PA | SIG

In this episode:

Swiss Watch Exports
- Swiss watch exports to the US fell 17% YoY in April
- Swatch Group (UHR.SW): trading ~CHF 215
- Richemont (CFR.SW): watchmakers down 4% in FY2026, but stock near record high CHF 161.80 on jewelry strength
- Richemont jewelry maisons (Cartier, Van Cleef, Vhernier): EUR 16.5B at 30.5% margin
- Watches of Switzerland (WOSG.L): surged 14% yesterday on FY2026 earnings, US sales +24%

Hong Kong Luxury Retail
- Revenue from jewelry, watches, clocks, and valuable gifts up 20% YoY in April
- Positive demand signal for Richemont and LVMH, both with significant Hong Kong exposure
- LVMH (MC.PA): ~EUR 473, down 26% YTD

Diamond Supply
- De Beers: average cost of natural mined diamond reached $4,063 in 2025, up 25% from 2023
- Kao mine going on care and maintenance from July amid rough-price downturn
- Signet Jewelers (SIG): raised full-year guidance on improved sales

Sector Snapshot at Close
- LVMH (MC.PA): ~EUR 473, down 26% YTD
- Richemont (CFR.SW): ~CHF 161.80, near record high
- Swatch (UHR.SW): ~CHF 215
- Watches of Switzerland (WOSG.L): up 14% yesterday
- Signet (SIG): raised FY guidance

Links:
- ALT/FNDATA: https://www.altfndata.com
- Swiss watch exports: https://rapaport.com/news/us-market-continues-to-weigh-on-swiss-watch-exports/
- De Beers diamond data: https://rapaport.com/news/natural-diamond-spending-and-sizes-rising-de-beers-says/
- Kao mine closure: https://rapaport.com/news/kao-mine-to-shutter-amid-rough-price-downturn/
- Signet sales: https://rapaport.com/news/strategic-revamp-still-paying-off-as-signet-sales-improve/

Also from ALT/FNDATA:
- Open Bid — Mon-Fri at 6 AM ET
- Luxury Spending — Wednesdays at 8 AM ET

What is Closing Price — Daily Evening Equity Analysis on Luxury Market?

Closing Price is your end-of-day briefing connecting public equity markets to the global auction and luxury alternative asset markets. Three times a week, host Sharon Obuobi tracks the publicly traded companies behind the world's leading auction houses, luxury brands, and collector markets — with proprietary data from ALT/FNDATA.

Learn more about us at www.altfndata.com

CLOSING PRICE — Wednesday, June 3, 2026

[INTRO]

Good evening. It's Wednesday, June the third. I'm Sharon, and this is Closing Price from ALT/FNDATA.

Three stories tonight: Swiss watch exports, Hong Kong luxury retail, and the diamond supply picture.

[SWISS WATCH EXPORTS — SWATCH, RICHEMONT]

Swiss watch exports to the United States fell 17% year over year in April. This is the headline weighing on Swatch Group, ticker UHR on the Swiss Exchange, trading around CHF 215.

Richemont's watchmakers were already down 4% in their latest fiscal year report. But Richemont, ticker CFR, remains near its record high at CHF 161.80, supported by the strength of its jewelry maisons — Cartier, Van Cleef, and Vhernier — which generated EUR 16.5 billion at a 30.5% margin.

Watches of Switzerland, ticker WOSG on the London Stock Exchange, surged 14% yesterday on FY2026 earnings showing US sales up 24%. Swiss exports are down, but specific retail channels are growing.

[HONG KONG LUXURY RETAIL]

Hong Kong revenue from jewelry, watches, clocks, and valuable gifts was up 20% year over year in April. For Richemont and LVMH, both with significant Hong Kong exposure, this is a positive demand signal from Asia-Pacific.

LVMH, ticker MC on Euronext Paris, remains near EUR 473, down 26% year to date. The company is scheduled to report H1 results in July.

[DIAMOND SUPPLY — DE BEERS]

De Beers has reported that the average cost of a natural mined diamond reached $4,063 in 2025, up 25% from 2023.

On the supply side, the Kao mine will go on care and maintenance from July amid a rough-price downturn. Supply reductions at a time of rising average transaction values are worth monitoring
particularly for companies like for Signet Jewelers, ticker SIG on the NYSE, which raised its full-year guidance this week on improved sales.

[SECTOR SNAPSHOT]

Prices at today's close:
- LVMH (MC.PA): ~EUR 473, down 26% YTD
- Richemont (CFR.SW): ~CHF 161.80, near record high
- Swatch (UHR.SW): ~CHF 215
- Watches of Switzerland (WOSG.L): up 14% yesterday
- Signet (SIG): raised FY guidance

[OUTRO]

That is Closing Price for Wednesday, June the third.

I'm Sharon, from ALT/FNDATA. Subscribe to us for notifications and Open Bid is tomorrow morning at
6 AM Eastern.