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