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Yahoo
3 days ago
- Business
- Yahoo
From sixth tier to Swiss Cup final: Biel-Bienne ready for time of their lives
The Swiss Cup was established in 1925 and with the competition celebrating its centenary a remarkable story has emerged – a third division team has reached the final for the first time. Meet FC Biel-Bienne, who survived bankruptcy less than a decade ago, have problems competing with an ice hockey club, and whose sporting director injured himself while jumping for joy. They come from a special town too. Biel/Bienne is the biggest bilingual city in Switzerland – Biel is the German name and Bienne is the French one. Until 2005 they were used separately until it was decided to unite them, true to the spirit of the community. Advertisement Related: Lionesses to be handed record £1.7m bonus package if they win Euro 2025 The town is famous for being the watch capital of Switzerland. The Federation of the Swiss Watch Industry is based there, as is the Swatch headquarters and the Rolex factory. The stadium is named the Tissot Arena, sponsored by the luxury watch brand owned by the Swatch group. It is multi-purpose and unique, combining a football stadium and an ice hockey arena. Ice hockey is more popular in the city than football, as EHC Biel-Bienne play in the top division and FC Biel-Bienne do not. Gone are the days when they were a major force, winning the title in 1947 and finishing second in 1948 and 1960. 'We were established in 1896 and are one of the oldest football clubs in the country,' says the FC Biel-Bienne president, Dietmar Faes. 'The traditions are great, and we used to have patrons from the watch industry. But things changed during the last 50 years and it became difficult to raise money and compete with a very successful ice hockey team that leads the sponsorship market in our area.' Advertisement The club went bankrupt in 2016 and very nearly disappeared from the football map. 'We started over in the sixth division, and had nothing,' the FC Biel-Bienne financial director, Mauro Ierep, says. 'No balls, no shirts, no sponsors, nothing at all. A local entrepreneur gave us €20,000 to start the season and cover initial expenses. The goal was to reach the fourth division in two years and it was achieved. Three more years were needed to get promoted to the third division 'The budget gradually increased to €1m thanks to the arrival of Core Sports Capital, whose Swiss owner, Ahmet Schaefer, is also the president of Clermont Foot in France. Nevertheless, most of the management team are volunteers, and we only have eight professional footballers. The rest are students or have other jobs and all training sessions take place in the evening so that everyone can take part.' The coach is inexperienced as well. The 35-year-old Frenchman Samir Chaibeddra worked as an assistant at a magnificently named Goal FC in his homeland, before joining Biel-Bienne in March 2023 and saving them from relegation to fourth division. He has proven himself a sound tactician and motivator and the team finished third last term. This season, returning to the second division was the main goal. At first the cup run was just an unexpected bonus. Biel-Bienne surprisingly won against second-tier Neuchâtel Xamax in round one, and then overcame a couple of minnows to reach the quarter-finals. 'We wanted to get a big game at home to have a nice boost for our finances, and got one,' the sporting director, Oliver Zesiger, says. Advertisement 'Lugano led the top division at the time. We defended deep, didn't concede many chances and scored on a counter. We were later told it was offside, but there was no VAR and the referees allowed it to stand. In injury time, Lugano sent their goalkeeper up and we made it 2-0 into the empty net.' Young Boys, the reigning champions, awaited in the semi-finals. 'They are our geographical rivals, at least as we are concerned,' says Zesiger. 'People from Biel/Bienne don't like those from Berne. We really wanted to play them and the tickets went extremely fast. 'Young Boys were clear favourites, of course. We lost 6-0 against them in a friendly in the winter. We face their reserve team in the third division twice a season. And yet, we were quietly confident that we could surprise them.' Every effort was made to prepare the players for something they had never experienced. 'We played fan chants loudly during the training sessions, so that the guys would learn how to communicate in a noisy environment,' adds Zesiger. Advertisement There was also a major novelty as VAR was installed at the Tissot Arena for the first time. That was symbolic because Biel-Bienne had an old score to settle. 'In 2019, we played against Young Boys in the first round and the referee stole the win from us,' says Faes. 'We led in injury time and he mistakenly awarded the corner from which they scored the equalising goal. That was devastating.' This year's fixture was not without controversy either. A penalty for Biel-Bienne was ruled out by VAR because the contact took place outside the area and the game ended goalless at 90 minutes. In extra time, another penalty was awarded when the Biel-Bienne striker Loïc Socka, on loan from Clermont, collided with the goalkeeper. Well, maybe. The touch was questionable, but VAR could not rule it out and chose not to intervene. Malko Sartoretti, a young striker on loan from Lausanne, stepped forward. 'Strangely, I didn't feel nervous,' he says. 'I told myself that it only could be a good outcome if I score.' It went in and Biel-Bienne managed to keep a clean sheet until Young Boys equalised with the last kick of the game. Everyone was shocked, only to be relieved when VAR disallowed the goal for handball. The celebrations were so wild that Zesiger was injured while jumping and hugging the press officer. 'I ruptured a ligament in my knee, but will go to the final nevertheless,' he says, smiling. Advertisement The following day, the team watched the other semi-final between Basel and Lausanne. Sartoretti wanted to face the club he belongs to, but the newly crowned champions Basel sealed a dramatic win, and now the amateurs of Biel-Biennemeet Xherdan Shaqiri and co in the final in Berne on Sunday. The 33-year-old veteran has been in superb form, but the underdogs are ready for the greatest day of their lives. The excitement and attention was difficult for the team to deal with and Biel-Bienne lost crucial games in the third division, missing out on a promotion. 'Mentally and physically that was too much for us,' Zesiger says. They would find themselves in the Conference League if they produce another sensational result. 'The only secret is that we have a very united group,' says the captain, Anthony de Freitas, who played for Port Vale between 2016 and 2018. 'We are courageous, and make efforts for each other. There is a lot of serenity, calmness and confidence in the dressing room. We were compact at the back against two top division rivals and there is no reason not to try and beat Basel too. 'We have shown that everything is possible, so why not this time?' says Sartoretti. Biel-Bienne fans think the same – in German and French – and their watches are ticking in unison.
Business Insider
4 days ago
- Business
- Business Insider
Luxury Swiss watch demand surged in the US as wealthy Rolex enthusiasts tried to get ahead of Trump's tariffs
Everyone seemingly wants to get their hands on a luxury watch ahead of Trump's tariffs. A report from the Federation of the Swiss Watch Industry found that Swiss watch exports grew by 18.2% in April. The US accounted for nearly $1.03 billion (851.9 million Swiss francs) in watch imports, propping up an otherwise struggling global market. The surge in Swiss watch exports to the United States was "mainly the result of early shipments, motivated by the increase in US customs duties," the federation said. "The surge in Swiss watch exports to the US, despite the backdrop of Trump-era tariffs, is a clear indication of the unique resilience and desirability of luxury timepieces among affluent American consumers," explained Andrew Du Plessis, commercial director for the Luxury Network USA. Neri Karra Sillaman, author and Entrepreneurship Expert at the University of Oxford's Said Business School, told BI, that the watch industry is seeing a rise in interest—not just from traditional collectors but also from first-time buyers treating timepieces as hard assets. The federation observed watches with an export price above $3,600 (3,000 francs) "set the tone, with growth of 22.9%." "A Patek, a Royal Oak, or even a well-kept vintage piece is seen as an investment," said Neri Karra Sillaman. "In times of economic volatility, people are putting their money into things they believe will hold value—just like gold." "People trust the value of a Rolex or a Patek Philippe more than a volatile stock right now," she added. On April 2, Trump announced so-called "liberation day" tariffs targeting Swiss-made goods, including luxury watches. While the baseline rate is 10%, Swiss exports could face tariffs as high as 31%. The main growth drivers by value were watches made from precious metals, steel/gold-steel, and bimetallic watches — materials targeted by Trump's additional tariffs, which analysts said could make buying a Rolex even more expensive. Steel watches led to an increase in volume by 18.9%, and precious metal by 9.5%. However, without the American bump, total Swiss watch exports would have actually declined by 6.4%, with major markets like China and Hong Kong showing sharp declines of 30.5% and 22.8%, respectively. Singapore also suffered a decline in exports by 9.2%. The Asian market has suffered from a luxury slowdown in recent years, with brands like Rolex, Cartier, and Patek Phillipe struggling to increase brand sales.
Yahoo
4 days ago
- Business
- Yahoo
Looming U.S. Tariffs Drove Swiss Watch Export Surge in April
PARIS – Watchmakers and retailers rushing to beat a looming, but moving, deadline for U.S. tariffs fueled timepiece exports in April. A total of 1.3 million watches with a value of 2.45 billion Swiss francs left the country during the month, an 18.2 percent increase year-on-year, according to figures published Tuesday by the Federation of the Swiss Watch Industry. More from WWD Tiptoeing Around Trump, Fashion Refines Trade War Rhetorical Style Is Deckers' Hot Streak Coming to An End? Hoka's U.S. Slowdown + Tariff Worries Weigh on Stock Trump Threatens 50% Tariffs on EU, Rattling Markets The U.S. alone took a 33 percent share of the market, with exports leaping 149 percent to 851.9 million Swiss francs. That is equivalent to a fifth of last year's full-year exports to the country. But the April boom does not signal the end of a turbulent period marked by shrinking markets across the board. 'The sharp rise in exports is more a reflection of a one-off response to an uncertain commercial situation than a genuine sign of a structural strengthening of demand,' the industry body said. 'Without the U.S., the month result would have been a decline [in value] of 6.4 percent, again penalized by China and Hong Kong,' territories that once occupied the top steps of the podium and have now sunk to fifth and sixth place respectively, it added. On April 2, the U.S. announced 31 percent tariffs for goods made in Switzerland, although negotiations are ongoing and exports are currently subject to the global 10 percent rate. Bar the American market, the rest of the world presented a mixed picture, similar to earlier months of 2025, with the U.K. and Japan showing slim, single-digit growth. Along with France, which rose nearly 5 percent, those were the only markets in the top 10 to grow in April. China and Hong Kong tumbled 30.5 and 22.8 percent respectively, while Singapore sank 9.2 percent. Results for April were 'consistent with the Swiss Watch Federation's previous downbeat outlook comment that global Swiss watch exports should decline again in 2025 given no imminent turnaround in Chinese demand,' said Thomas Chauvet, head of European equity research, luxury goods at Citi. By materials, it seems the American consumer has a taste for steel, precious metal and bimetallic watches. The federation pointed out that without the U.S., the total number of watches exported would have declined 5.7 percent, but did not specify the effect on value. As it stands, units exported to North America rose by 77 percent. The dominant steel watch category drove the increase in volume with an 18.9 percent leap, with bimetallic and precious metal pieces also seeing a sharp uptick, albeit on far smaller unit numbers as a base. In value, precious metal watches came first at 953 million Swiss francs and a 23.4 percent increase, followed by steel and bimetallic watches. U.S. demand may not be the only factor contributing to the growth in value. Bernstein's Luca Solca said that 'beyond the tariff pull-forward, export values also reflect the impact of high gold price inflation,' with the growth in gold-steel and precious metal pieces 'indicating double-digit [year-on-year] export price inflation.' The 'other materials' and 'other metals' categories did not benefit from increased shipments to the U.S., shrinking in value and volume by high-single or mid-teen percentages. The bell-shaped curve by price category continued, with the high end of the market of watches priced above 3,000 Swiss francs at export price growing 22.9 percent in value and almost 20 percent in volume, while entry-price pieces under 200 Swiss francs rose by a more modest 10.4 percent in value and 6.5 percent in number of units. Meanwhile, the middle segment was mainly flat in volume, while value contracted for the 200-to-500 Swiss francs category while growing 5 percent for the 500-to-3,000 range. 'The data suggests that Swiss exports to the US in the [200-to-500 Swiss francs] range are a negligible portion of total global exports to this price range, while the U.S. remains a key market for exports priced below 300 and above 3,000 [Swiss francs],' said Solca. 'We note that most smartwatches are priced in the 200 to 500 [Swiss francs] range.' Best of WWD Watch Industry Tastemakers on Their Top 10 Timepieces and What Makes a Collectible Zenith Releases Two Timepieces Blancpain Expands Air Command Range Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
5 days ago
- Business
- Fashion Network
Swiss watches see 18% shipping boom ahead of possible Trump tariffs
Swiss watch exports surged by almost a fifth in April, as shipments to the United States more than doubled ahead of potential expanded tariffs announced by President Donald Trump. According to the Federation of the Swiss Watch Industry, total exports rose 18% for the month, reaching 2.5 billion Swiss francs ($3 billion). Exports to the U.S.—the industry's single largest market—spiked by 149%. 'This is the result of early shipments prompted by the announcement of U.S. tariffs,' said Jean-Philippe Bertschy, an analyst at Vontobel. Watches made from precious metals, steel, and bimetallic materials—all targeted by Trump—saw the strongest growth. In contrast, exports to the rest of the world declined by 6.4%, continuing a weak trend from earlier in the year. Bertschy added that the sharp U.S. increase was likely a one-time reaction from exporters looking to avoid higher tariffs, not a sign of long-term demand growth. Trump imposed a 10% tariff on imports from Switzerland in early April and has since threatened a 31% surcharge if a new trade agreement is not reached. The deadline is currently set for July 9, although it may be extended. Any increase would have a significant impact on the watch industry. Performance in Asian markets remained sluggish. April exports to Singapore declined 9%, fell 30% in China, and dropped 23% in Hong Kong. During the most recent earnings season, major luxury groups including Richemont, LVMH and Hermès reported declines in watch sales. 'The rise of 'luxury fatigue,' a declining 'feel-good factor' from luxury purchases, and worsening consumer sentiment all contribute to a less optimistic outlook,' Bertschy noted.
Fashion United
6 days ago
- Business
- Fashion United
US tariffs drive deceptive spike in Swiss watch exports
Boosted by a surge in US demand, Swiss watch exports jumped by 18.2 percent in April 2025. However, this increase mainly masked the sector's deep concern about the new tariffs imposed by Washington. A cyclical surge linked to US trade policy The Swiss watch industry experienced a spectacular upturn in April 2025. According to data from the Federation of the Swiss Watch Industry (FH), exports rose by 18.2 percent compared to the previous year. This dynamic was mainly driven by the US, the number one export market for Swiss watches, which saw its imports explode ahead of a major regulatory change. According to an AFP article published on May 27, 2025, Swiss watch exports to the US soared in April, jumping by 149.2 percent compared to the same period a year earlier. This exceptional peak was a direct consequence of fears surrounding the announced introduction of reciprocal tariffs of 31 percent by the US administration. Without these massive shipments to the US, the FH stressed that Swiss watch exports would actually have fallen by 6.4 percent in April, reflecting a mixed, even lacklustre, trend in other markets. Indeed, while exports edged up slightly to the UK (plus 1.6 percent), France (plus 4.8 percent) and Japan (plus 1.9 percent), they fell sharply to China (minus 30.5 percent) and Hong Kong (minus 22.8 percent). Since April 9, Swiss imports, including luxury watches, have been subject to a 31 percent tariff. This is part of a so-called 'trade reciprocity' policy initiated by the Trump administration. The result was a massive influx of orders placed in advance by US retailers, in order to build up stocks before the entry into force of this protectionist measure. 'This increase in exports is artificial: it's an anticipatory phenomenon, not a structural rebound in demand,' said an expert quoted by Reuters. Pressure on the US market With 4.37 billion Swiss francs of exports to the US in 2024, representing almost 17 percent of the sector's total, the American market is essential for Swiss watchmakers. The abruptness of the tariff increase caught an industry used to long cycles and relative commercial stability off guard. Brands fear a sharp fall in US demand, particularly for mid-range models, which are especially sensitive to price increases. While major players such as Rolex, Omega and Patek Philippe have brand power that allows them to adjust prices without losing customers, the situation is more strained for independent or emerging brands. 'We have no other choice but to pass on these 31 percent on our selling prices,' said the management of British brand Christopher Ward, in a message to its US customers, reported by the media outlet Hodinkee. Brands adapt urgently Faced with this new situation, some brands have already initiated tariff adjustments on their online shops and US distribution networks. For example, Rolex announced an increase of 3 percent to 5 percent on several references from mid-April, reports Watch Analytics. Other groups are seeking to circumvent tariff increases through logistical transfers or direct negotiations with their partners in the US. The context is reminiscent of the Sino-American trade tensions of the late 2010s, but here it takes an unprecedented turn for watchmaking, which has historically been little exposed to this type of measure. Diplomatic negotiations underway In response to these tensions, Switzerland has engaged in diplomatic negotiations with the US. In mid-May 2025, the president of the Swiss Confederation, Karin Keller-Sutter, and the minister of the economy, Guy Parmelin, met the US Secretary of the Treasury, Scott Bessent, and the Trade Representative, Jamieson Greer, in Geneva, on the sidelines of negotiations with China. These discussions resulted in a 90-day pause in the application of tariffs, opening a window for a lasting solution. 'We are calling for a balanced solution. Swiss watchmaking must not become a collateral victim of trade disputes,' said a spokesperson for the FH to Fortune Europe. Potential long-term consequences to anticipate Despite the April peak, the sector anticipates a more uncertain second half of 2025, threatened with contraction. The rise in prices could also favour American or Asian brands, and even boost the North American second-hand market, which is already booming. The most agile brands could revise their establishment policy. For example, they could strengthen their local presence via assemblies or relocated distribution partnerships, similar to certain strategies already tested in the 2020s with China. A case to follow for the whole of European luxury This new protectionist episode is a reminder of recent tensions between Washington and the European Union, particularly over agri-food products, electric vehicles and strategic software. It illustrates the rise of a climate of commercial fragmentation that could affect, beyond Swiss watches, all European luxury industries heavily exposed to the US market: leather goods, haute couture, perfumery and jewellery. Negotiations between Brussels and Washington are strained, with a deadline set for July 9. After this deadline, the threat brandished by Donald Trump could materialise, with the introduction of massive tariffs on European imports. In a polarised and uncertain American electoral context, this tariff sword of Damocles is likely to be a lasting feature of the 2026 strategies of major European luxury groups, which sometimes generate up to 40 percent of their sales in the US. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
