Retail brands brace for price changes due to U.S. tariffs

In May 2025, household brands like Pandora, Puma, and Hugo Boss announced plans to evaluate their pricing strategies due to the impacts of U.S. trade policy. These companies are responding to uncertainties stemming from tariffs introduced by President Donald Trump, which included reciprocal import duties on various trading partners. The potential alterations to pricing strategies could significantly impact consumer costs in the U.S. market as firms seek to adapt to changing conditions. Pandora's CEO, Alexander Lacik, highlighted that many jewelers import from Asia, and thus, adjustments to pricing are likely to follow. Lacik revealed that the company has modeled different scenarios for the possible price hikes, although he noted that the exact adjustments would be influenced by industry trends. German sportswear brand Puma also indicated that it may need to change its pricing due to tariffs, while adjusting its supply chains as part of a broader strategy. Furthermore, Hugo Boss acknowledged that it is considering pricing adjustments to mitigate the impact of cost increases stemming from tariffs. The company's CEO, Daniel Grieder, mentioned that despite a stable consumer demand in the U.S. noted in early reports, there is a cautious attitude as they monitor the evolving situation. Overall, these global brands are preparing for possible shifts in pricing amidst an unpredictable trade environment, which could lead to higher costs for American consumers. The companies are implementing strategies to manage their supply chains and sales forecasts in response to tariff-related uncertainties, emphasizing the intricate relationship between international trade policies and market pricing strategies.