Stuller Inc
advertisement
Stuller Inc
advertisement
Stuller Inc
advertisement
Goto your account
Search Stories by: 
and/or
 

News












Sales reached ?CHF4.019 billion ($AU8.6 billion), the group’s highest return since 2018. | Source: Swatch Group
Sales reached ?CHF4.019 billion ($AU8.6 billion), the group’s highest return since 2018. | Source: Swatch Group

Impressive sales for Swatch

Swiss conglomerate Swatch Group has reported its strongest financials since the pandemic, with sales for the first half of 2023 increasing by 18 per cent.

Sales reached CHF4.019 billion ($AU8.6 billion), the group’s highest return since 2018.

Operating profit improved by 36.4 per cent, with a statement lauding double-digit increases in all watch and jewellery segments.

“The maker of Omega, Tissot and Longines timepieces as well as its mass-market plastic watches, said the lifting of COVID-related restrictions in Asia boosted its sales, especially in China, Thailand and Macao, which saw a rapid rise in travel activity.”
Reuters

“The maker of Omega, Tissot and Longines timepieces as well as its mass-market plastic watches, said the lifting of COVID-related restrictions in Asia boosted its sales, especially in China, Thailand and Macao, which saw a rapid rise in travel activity,” reports Reuters.

“It also noted strong increases in its core European market, with sales in Switzerland soaring almost 50 per cent.

“The strongest increases came from the lowest price segment, Swatch said, announcing it would be introducing new products focused on, but not exclusive to, the lower and mid-range segments.”

Swatch also revealed that it has acquired property on Old Bond Street in London and a store on the Champs-Elysées in Paris.

More reading
Rolex launches second-hand certification program, records shattered in Geneva
Stunning Patek Phillipe sets new world record at auction
The rise of Inhorgenta Munich continues unabated
Luxury watch market approaching $100 billion milestone
Mixed reception to single-day MoonSwatch release
‘Rational indulgence’ the key to Watches of Switzerland success
Swatch falls short of expectation despite MoonSwatch success
CEO concedes MoonSwatch madness could have been avoided
Swatch Group to steer clear of second-hand market

 











Rapid Casting
advertisement





Read current issue

login to my account
Username: Password:
SAMS Group Australia
advertisement
Jeweller Magazine
advertisement
SAMS Group Australia
advertisement
© 2024 Befindan Media