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Swatch posted gross sales of AU$11.3 m for 2013, a gain of 8.3 per cent
Swatch posted gross sales of AU$11.3 m for 2013, a gain of 8.3 per cent

Increased market share for Swatch

Swatch Group, the largest Swiss watch business, says it expects “dynamic growth” this year off the back of record sales and a clear increase in market share in 2013.

The company posted gross sales of US$9.97 million (AU$11.3 m) for 2013, a gain of 8.3 per cent. This indicated a significant increase in market share as overall Swiss watch exports reported only a modest 1.7 per cent rise.

As previously reported by Jeweller, sales of Swiss watchmakers struggled in the Asia-Pacific region in 2013 after the Chinese government cracked down on the illegitimate gift-giving of luxury items; however, with 20 brands across a wide range of sectors, Swatch Group bucked the trend to record strong figures. 

Despite the strong sales and expected growth, Swatch is still warning of a negative impact from the ongoing over-valuation of the Swiss Franc. To highlight this point, the group stated that currency exchange rates had cost it more than US$110 million (AU$124.6 m) in the second half of 2013 alone, with the greatest pressure on the electronics systems operations (down 3.9 per cent from the previous year).

While clearly frustrated with currency valuations and global concerns in the Asian market, Swatch remains bullish towards 2014 with a statement announcing that increases in production capacity are either “in the planning phase or already under construction”. 

Swatch Group’s key figures are not expected until 20 February 2014; however, analysts reportedly predict good results for 2013 at operating profit and net income level.

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Wednesday, 18 September, 2019 12:19am
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