Swatch Group recovers from 2016 slump with marginal growth in H1

Swatch-Group-headquarters-Biel-Bienne

Following a torrid 12 month period, watch and jewellery company Swatch Group has reported a slight growth sales for the first six months of 2017.

Group net sales were 1.2% at constant exchange rates, while sales growth figures showed an increase of 2.9% at constant rate in the watches and jewellery segment (excluding production).

Sales for the entire segment, including production, also saw an increase of 1.2%, having been previously affected by low production sales to third parties.

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The positive trend in 2017’s current figures comes after a downturn in 2016.

“Based on the positive development of the last three months, healthy growth is expected for the year 2017,” a statement accompanying Swatch Group’s release of key figures for the 2016 financial year said.

In the 2017 report the company stated: “Positive outlook for the second half of 2017 with many new product launches. [There is] good development in production, which will mainly profit from the growth of the own brands, not only in value but also in volumes.”

The company continued to report that sales are sensitive to the strength of the Swiss franc versus the USD and JPY, which did not favour the industrial area in the first half of the year.

In the report, Swatch details its best performing products, highlighting the success of Omega’s 60th anniversary campaign.

As well as performance analysis, the company provided an overlook of its growth strategies for the coming years.

Omega and the IOC have extended their timekeeping contract for the Olympic Games by an additional 10 years, up to and including the Olympic Games 2032, so that Omega’s term as official timekeeper of the Olympic Games will now total 100 years.

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