New York Watch Week has arrived, and Ulysse Nardin is looking to make a splash.
The independent Swiss watchmaker has been around for 180 years, making avant-garde pieces with cutting-edge tech (for mechanical watches) from its factory in Le Locle, situated just outside Bern.
But Ulysse Nardin has had a long-standing US presence, starting at the turn of the 20th century, when it provided timepieces for the US Navy. So it shouldn’t be a surprise that the company unveiled its latest creation — the Freak S Enamel with red or blue dials — during New York Watch Week. The cost? Approximately $174,000 for this model, and limited to 50 watches.
The Freak is a watch where the movement itself navigates the dial, telling time, among other tech such as a double oscillator, silicon materials, and the world’s smallest mechanical differential, which helps maintain accuracy.
It’s also a watch Ulysse Nardin has been tweaking and optimizing for 25 years.
Ulysse Nardin CEO Patrick Pruniaux said of the Freak: “It’s a mix of different technologies that are very unique, and it’s probably the most complicated time-only watch in the world.”
For the price — the cheapest Freak costs around $29,500 — owners expect it to be. High-end collectors, including Michael Jordan and Amazon’s Jeff Bezos, have been seen wearing Ulysse Nardin timepieces.
When discussing prices, we have to bring up tariffs. With the White House imposing duties of 39% on Swiss imports, which include pricey timepieces, the financial hit could be dramatic.
Pruniaux said he’s not concerned.
“We’ve been a company that has been existing for almost two centuries, so we’ve been, as you can guess, through many cycles, and obviously we’ve seen some tariffs that increase or decrease,” he said. “I don’t think it’s going to impact massively our business overall, but I think in the watch industry, there could be some increase in price in the US. But actually the weakness of the dollar has probably as much impact as a tariff on the price.”
Ulysse Nardin confirmed that it raised prices by around 10% in response to tariffs and the weakening dollar. “I don’t think [tariffs are] going to impact the buying process and the appetite from the American consumer,” Pruniaux added.
The saving grace for the watch industry and luxury in general is the durable nature of the high-net-worth consumer. LVMH (LVMUY), which counts brands like Tiffany, Louis Vuitton, Bulgari, and Tag Heuer in its jewelry division, reported upbeat Q3 results. Revenue was higher for the first time in several quarters — and watches and jewelry outpaced LVMH’s fashion brands.
Pruniaux also sees the luxury consumer in better health as well.
“When you look at that market, it has been growing significantly,” he said. “The growth rate has been significant for a couple of decades now, and it continues, and I think it will continue.”
