It has nothing to do with marketing or experience (the US has a history of storied watchmaking, preceding the Swiss, though nearly all of those American companies - such as Elgin - went out of business long ago, and definitely the American watchmaking industry took a deathblow due to the Quartz Crisis/Revolution, as did the watchmaking industries in most other countries). Hamilton and Timex are basically the only remaining watch companies with any substantial American heritage (and Hamilton is now a Swiss watchmaking concern). Waltham established a Swiss subsidiary in 1954, 3 years before it went out of business in the US, and it was this branch that continued to sell watches in the US under the Waltham name until the early 1980s.

It has more to do with the costs of trying to set up an entire watchmaking business almost from scratch within the United States while facing stiff competition from well-established brands. It’s simply not worth the upfront cost. On top of this, the legal requirements to label something “American made” are actually substantially higher/stiffer than those needed to mark a watch as “Swiss made.”

That said, some smaller groups have started using some US-based watch manufacturing (for instance, Islander sells some American-manufactured/built watches) - Shinola, for what it’s worth, being the primary example of the past decade or so, though it’s not what I would consider a luxury watch company.