NEWS: Swatch Group report increased profits in 2012

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The Swatch Group has announced that in 2012 they exceeded their CHF 8 billion target by 14 per cent, with gross sales reaching CHF 8.143 billion. Operating profit increased to CHF 1. 98 billion, a rise of 22.9 per cent on 2011’s figure of CHF 1.27 billion. For the year, net income was CHF 1.608 billion, an increase of 26 per cent on 2011.

A total of almost CHF 500 million was invested and approximately 1500 new jobs were created in 2012, of which 900 were Switzerland, and a further 280 positions were added as a result of acquisitions. The Swatch Group now numbers some 29 700 people.

In the watches and jewellery area, gross sales increased 15.6 per cent to CHF 7.30 billion. The Group remains optimistic about growth, and not only because of the recent acquisition of Harry Winston. With China accounting for some 25 per cent of global luxury spending, Swatch Group CEO Nick Hayek told Bloomberg that he expects the China market to grow by 10 per cent this year, with ‘ mid-range’ brands rather than the high end ones, possibly holding the key for the Swatch Group.



Categories: Industry news, News, Switzerland, watches

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