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STATE OF THE NATION’S TOP 10 WATCHMAKERS: No.6 – Swatch Group UK Ltd

Swatch Group Turnover

The Swatch Group (UK) Limited, which is responsible for the wholesale and direct to consumer retail operations of all Swatch watch brands in the UK, saw sales rise by 4% to £85 million in 2017.

The record turnover means that the group has more than doubled sales in the UK since 2010, when the total was just £40 million.

Operating profit has been declining since a peak in 2014, dipping to £3.3 million in 2017, almost half the figure in 2016 of £6.3 million.

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Swatch Group UK does not provide an explanation in its accounts published at Companies House, but cost of sales has risen by around £5 million between 2016 and 2017, and distribution costs have also increased by around £2 million.

The performance of individual watch brands within the Swatch Group stable is not broken down in the UK, nor is it disclosed by the Swiss headquarters.

Swiss investment bank Vontobel provides an annual report that estimates sales by each brand globally, with Omega topping the list with 26% of group revenue in 2017, Longines in second with 18% and Tissot third with 13%.

 

Tags : State of the Nationswatch groupTop 10 Watchmakers
Rob Corder

The author Rob Corder

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