Swatch Group Maintains Strong Sales Momentum

According to data recently released by the world’s largest watch manufacturer, the Swiss Swatch Group, the group’s 2013 sales reached 8.817 billion Swiss francs (approximately $ 9.7 billion), an increase of 8.3 over the previous year %. Although this sales failed to meet the previously set target of 9 billion Swiss francs (about 9.9 billion US dollars), it still set a new record. Among them, the group’s watch and jewellery division performed particularly strongly, with sales increasing by 8.6% to 8.532 billion Swiss francs (about $ 9.4 billion).

 The Swatch Group said that the outstanding sales performance is mainly due to its strong brand effect and extensive distribution and retail network. The failure to achieve sales was mainly due to the continued overvaluation of the Swiss franc and the sharp decline in the exchange rate of the Japanese yen and the US dollar, which adversely affected revenue. The group will announce other important data such as 2013 earnings results on January 20.

For sales prospects in 2014, Swatch Group stated that sales of all its brands were better in the first few days of January, which is a favorable start. However, due to a recent fire at the core component production plant of the group, market analysts believe that the Swiss national watch industry may be affected. Swatch CEO Nick Hayek said that the fire could cause the production of certain components to stall for several weeks, and watch manufacturers relying on Swatch power movements were even more affected.

沃 The Swatch Group owns many brands including Omega, Radar, Longines, Tissot, etc., and is also a world-renowned supplier of watch components. In addition to the mechanical power movements produced by Swatch, the factory also supplies other major watch manufacturers in Switzerland, such as Louis Vuitton [Weibo], which owns brands such as TAG Heuer and Hengbao.