The watch industry has taken a big hit during the pandemic. Swatch Group has just released its 2020 results and, as expected, these have been severely impacted. At CHF 5,595 million, net sales are down 28.7% at constant exchange rate and 32.1% at current rates. The operating results remain slightly positive at CHF 52 million […]
COMCO, the Swiss Competition Commission, has just announced that ETA (Swatch Group’s movement manufacturer) is now free to deliver movements to third parties with no obligations or restrictions. Last December 2019, the regulator issued an unexpected decision preventing Swatch from delivering to clients at its own discretion. Criticized by many, this provisional measure meant that […]
Swiss watch giant Swatch Group has just issued its 2020 half-year report and, as anticipated, its activity has been strongly impacted by the effects of the COVID-19 pandemic. With manufacturing coming to a standstill and retail networks closed, the Group recorded net sales of CHF 2,197 million, -43.4% compared to the previous year at constant […]
As the Swiss watch industry is facing a severe crisis, Swatch Group announces major changes in the Executive Group Management Board and the Extended Group Management Board and appointments to the management of the Longines, Rado, Union, Tissot, Certina, and Hamilton watch brands. Raynald Aeschlimann, President and CEO of Omega and member of the Extended […]
Following the announcements by the Swiss Watch Federation with slightly growing export numbers and record results by LVMH for the year ended December 31st, Swatch Group has just announced its 2019 results, which aren’t as positive as its competitors and the whole market. At CHF 8,243 million, the group net sales are down 1.8% at constant […]
Have you ever wondered how Swatch Group brands like Tissot, Certina, Hamilton and Mido can make reliable, robust and accurate mechanical watches of good quality at very reasonable prices? Take a look inside the cases and you’ll see the answer ticking there: the movement that seriously raises the bar for the entire industry. Its name: […]
This weekend, several major Swiss publications announced that COMCO (the Swiss Competition Commission) was about to announce that ETA, one of the major Swiss producers of watch calibres, ébauches and parts, would be forced to stop deliveries of movements to third-party manufacturers and watch brands as of 2020. The Swatch Group reacted strongly to this […]
The FHS (the “Fédération de l’industrie Horlogère Suisse” or Federation of the Swiss Watch Industry) just released the export statistics for the first half of 2019. Ex-factory shipments of Swiss Watches rose 1.4% in value to CHF 10.666 billion. For the month of June, exports dropped by 10.3%, thus having a significant negative effect on […]
Swatch Group has just announced its first half-year report 2019 and the results aren’t positive. Both sales and profitability have been impacted, after a positive year 2018. The Swatch Group still anticipates growth in the second half of 2019 though.
Following Richemont ahead of SIHH and LVMH earlier this week, it is now Swatch Group’s turn to communicate on its performance. Even though the overall results are positive, with net sales and profitability on the rise, the end of the year 2018 has been more difficult. The Swatch Group, however, anticipates healthy growth in 2019.