Swatch news and archive

Swatch group posts full-year profit

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...

Business

Swatch sales nearly halved during coronacrisis

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...

Business

Swatch profits go backwards as Hong Kong protests bite

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...

Fashion

'Incomparable' 50 million USD pink diamond smashes record at Geneva auction

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,...

Business

Swatch makes up for lost time with record sales

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...

Business

Swatch profits slow as attacks hit key markets

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...

Business

Swatch shares unhinged after earnings warning

Shares in Swatch plunged more than 11 percent on Friday after the Swiss watch group warned that sales had slumped and profit had plunged in the first half of the year. Although full publication of results is not expected until next week, the company said first half sales had fallen by 12 due to drops "in important markets like Hong Kong and...

Business

Swatch plans to add to smartwatch range

New York - No one is letting Apple have the sole monopoly on the smartwatch. Swatch's CEO Nick Hayek was quoted saying to Swiss newspaper Tages-Anzeiger "Our product is called Touch Zero One and that gives enough room for Zero Five, Zero Nine. The Touch Zero One is not the end of the progression." While the plan is only so concrete plan, it is...

Fashion Featured

Swatch to launch family of smart watches

Anyone who thought that Apple was going to be the only one taking a piece of the smart watch pie was obviously living in some delusional reality. Swatch Group announced on Thursday, March 12th, 2015 that they will be releasing a collection of touch screen “smart” watch pieces aimed at special interest groups. The first watch in the collection...