Zurich - Swiss watchmaker Swatch Group saw its profits and sales plummet in 2024 due to falling demand in China and a decline in orders for watch components, it announced on Thursday. The Swiss group, which owns Tissot, Longines and Omega among others, reported a net profit that fell short of expectations, down fourfold to 219 million Swiss...
30 Jan 2025
The chief executive officer of watchmaker Swatch Group, Nick Hayek, has denied that there are foreseeable plans to delist, despite previously expressing an interest in taking the company private. In an interview with German news platform Bilanz, Hayek said that privatising Swatch, which is currently listed on the Swiss Exchange, “would be a nice...
27 Sept 2024
The Swatch Group AG (SWGAF.PK), a Swiss manufacturer of watches and jewellery, Monday reported result before tax of CHF 225 million for the first half, lower than CHF 653 million in the comparable period last year, primarily due to drop in demand for luxury goods in China, including Hong Kong SAR and Macau SAR. Operating results declined 17.1...
15 Jul 2024
Watch manufacturer Swatch Group has announced the acquisition of a property on London’s New Bond Street in a transaction worth 90 million Swiss francs (81.2 million pounds). The location houses a salon for the group’s owned brand Harry Winston, which had initially launched a store there in 2006, and had later reopened in 2016 following a...
10 Oct 2023
The annual surge in the release of Pride-themed products, adorned with vibrant rainbow flags in support of LGBTQ+ equality, shows no sign of slowing down, as brands hope to gain their share of the pink pound. Nevertheless, certain products are embroiled in controversy, not due to their ostentatiousness, but for running afoul of local laws....
17 Jul 2023
Swiss watch and jewelry maker Swatch Group (SWGAF.PK, SWGNF.PK) reported that its net income attributable to shareholders for fiscal year 2021 was 765 million Swiss francs compared to a net loss of 51 million francs in the previous year. Earnings per registered share was 2.95 francs compared to a loss of 0.20 francs in the prior year. Operating...
25 Jan 2022
Swatch, the world's top watch company, said Tuesday its sales were nearly halved in the first half of the year due to coronavirus lockdowns, but that it has already returned to profitable operations. The Swiss-based group whose brands also include Omega, Longines and Tissot, said sales plunged by 46.1 percent in the first half of 2020 from the...
14 Jul 2020
Swiss watchmaker Swatch Group said Thursday profits dwindled last year as sales in one of its biggest markets Hong Kong took a beating amid months of sometimes violent pro democracy protests. Swatch, which is best known for its brightly coloured plastic-cased watches but also owns several luxury brands including Breguet and Omega, posted a 2019...
30 Jan 2020
An exceptionally rare pink diamond of nearly 19 carats fetched 50.3 million Swiss francs (50 million USD, 44 million euros) at auction in Geneva Tuesday, Christie's said, setting a new per-carat record for a stone of its kind. The Pink Legacy, which once belonged to the Oppenheimer family who for decades ran the De Beers diamond-mining company,...
14 Nov 2018
Swatch, the world's top watchmaker, on Wednesday announced an all-time record in half-year sales, saying it has millennials to thank for bringing wristwatches back. Swatch is best known for its brightly coloured plastic-cased watches, but also owns several luxury brands including Breguet and Omega. Long the world's biggest watchmaker, Swatch has...
18 Jul 2018
Swatch has handily outrun the global watch crisis, it said Tuesday, with revived sales in Asia pushing 2017 profits more than 27 percent higher from the previous year. The world's largest watchmaker saw its net profit swell to 755 million Swiss francs ($812 million, 651 million euros), more than a quarter higher than in 2016. Swatch, which is...
30 Jan 2018
Swatch Group, the world's largest watchmaker, posted a 52-percent fall in first-half profits on Thursday, with sales hurt by declining tourism after attacks in France and Belgium. The Swiss-based company also said revenues were down in its crucial market of Hong Kong. The entire luxury watch sector has seen trimmed sales on the island since...
21 Jul 2016
