Timely Swatch sales stronger than expected


Swatch Group aims to keep growing sales faster than the industry average in 2013 and possibly score another double-digit increase, the head of the world’s biggest watchmaker said.

Swatch said yesterday that 2012 sales growth beat forecasts, helped by affordable – though less profitable – brands that are doing well in contrast to luxury models, which are suffering from cooling demand in important Chinese markets.

“I’m expecting double-digit growth for the Chinese New Year in local currency, and why not perhaps also for the year as a whole,” chief executive Nick Hayek said.

Gross sales at the maker of colourful Swatch plastic watches as well as high-end Breguet and Omega timepieces rose 14 per cent to 8.14 billion Swiss francs last year. – (Reuters)