0:00 Allie
You're doubling down on the US market. What does that look like in practice and why is now the right time? Is it because of what's going on globally with tariffs?
0:08 Speaker C
So first of all, uh the US is our biggest market, roughly representing 23 uh percent of our turnover. It's a growing market, a market with huge potential. So, and we're very happy in that context obviously to be uh partnering uh with the NFL. But other projects will uh come on board. We believe in in the in the market. And yes, we have that issue with the tariffs, which has been a little bit of a shock uh for the Swiss population, but I hope it will be solved in the next couple of weeks, I would say.
0:41 Allie
So how are you safeguarding your business in the meantime to handle that shock? It does it have to do with your supply chain? Are there levers that you could pull to offset some of that risk?
0:54 Speaker C
Yeah, so we did ship obviously uh some watches beforehand, so we have some stock roughly three months of stock available here in the US and we'll see how the negotiations will develop in order then to decide if we have to increase prices uh or not. I hope not.
1:13 Allie
So so far no no price increases?
1:15 Speaker C
For the moment, no price increase, but it could change depending on the negotiations. Um, Switzerland is a very friendly country to the US. Uh, we are the biggest per capita investor in the US. It's a small population, 8 million people. Uh we are uh we employ 450,000 people in the US. Uh we pay the highest wages from all foreign countries to the US uh uh colleagues working for Swiss companies. So, um, I mentioned that uh we even our Constitution is inspired by the American Constitution. We are the sister uh country of of the US and um yeah, if somebody can get me uh a meeting in Maralago uh 10 minutes.
2:05 Allie
I was going to say, we need to bring this to President Trump. I I like the pitch.
2:08 Speaker C
Yeah, give me 10 minutes. Let me talk to him and uh this guy who will organize that meeting get a watch for me.
2:20 Speaker B
Real quick before the NFL stuff. Um you're hopeful that there's a deal going to be in place soon. Is that what you're saying?
2:23 Speaker C
Yeah, of course. It has to, I mean, it doesn't make sense. We have the highest tariffs from all Western countries. Um 39%. I mean, UK is 10%, uh EU has 15%. We are not part of the EU by the way. We are neutral independent free country. And uh we need obviously uh trade with the US to remain independent, free, and neutral.
2:47 Speaker B
So, Allie mentioned doubling down on the US consumer and and obviously tariffs are a big part of that. But also the NFL. This is a big deal. I was kind of surprised to see Breitling, a big Swiss brand partnering with the NFL, the arguably the biggest sports brand in the US. Why does that deal make sense for you? You know, obviously you're targeting the US consumer. Why does it make sense internationally, too?
3:20 Speaker C
First of all, um uh the NFL, and you know that better than than I do, is so American. It represents so much the American values. It's about, the game is about tactics, it's about uh strategy, it's about strength, it's about speed. All these factors correspond to Breitling. Uh the the values correspond uh to Breitling, the team spirit correspond to Breitling. And we are perceived um somehow also as an American brand. And as you know, the NFL is growing, is expanding. Yes, there are over 100 million viewers in the US for the Super Bowl, but there will be seven games outside of the US uh this year for the first time. Even one in Brazil, which is the, you know, uh the Mecca of of of soccer and not uh football. Uh many games in in in Europe. So I think there's a major plan to develop the NFL outside of the US.