Nick Hayek said on March 1 that the Swatch Group is expected to achieve high single-digit growth in 2012. In China, sales of the most high-end watches are currently slowing, but do not worry. Swatch may therefore shift its focus to the low-end market.
Swatch's high-end brand Omega
Nick Hayek, CEO of the Swatch Group, the world's largest watch maker, said on March 1 that the group is expected to see high single-digit growth in 2012. He said Swatch overall situation is very good, all business growth in all regions of the world.
Swatch group's high-end brands Breguet, Blancpain and Omega, mid-range brands are Tissot, Balmain, Certina, etc., low-end brands Swatch and Flik Flak.
Hayek said the group's top brands may see a 4% -5% increase this year thanks to stronger Swiss francs against Other currencies and higher gold prices. Mid-range brands will not increase prices this year, Swatch will strive to reduce costs to maintain the price advantage to ensure that no loss of market share.
Swatch Group sales in 2011 rose 10.9% to $ 8 billion, while net profit rose 18.1% to 1.4 billion.
Hayek said double-digit growth was achieved in January and February 2012, but he was cautious and continued to determine that this was a year-round trend.
He said that although everyone is talking about China, the situation in the United States is also very good. Last year, the Swatch Group achieved a 45% growth in the U.S. market and a 50% growth rate earlier this year.
He disclosed that in China, sales of the most high-end watches are currently slowing, but do not worry. Swatch may therefore shift its focus to the mid and low end markets, with sales of Longine, Tissot and Swatch in January and February showing substantial growth.
Swatch Group plans to open 100 new stores worldwide in 2012, of which 3 or 4 will be newly opened in the United States. This year's expansion in innovation, production, retail and customer service will generate 1,000 positions, half of them in Switzerland.
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