Despite a reported slowdown in the Swiss watch market since last April, Patek Philippe has recently implemented price increases across its global model lines, with an average hike of about 7 percent. This move is seen as a strategic response to offset rising input costs and maintain pricing power without dampening demand. The decision follows a similar price hike by Rolex in the UK earlier this year. Analysts attribute the market's cooling to factors like rising interest rates and a general slowdown in consumer spending.