×
69 386
Fashion Jobs
CANADA GOOSE
Manager, Marketing Analytics
Permanent · NEW YORK
CROCS
Crocs: Director, Sales
Permanent ·
CROCS
Crocs: Associate Marketing Project Manager
Permanent · BROOMFIELD
URBN
Anthropologie Visual Merchandising Manager
Permanent · SAN JUAN
SACK OFF 5TH
Dvp District Manager, Mid-West (Chicago Based)
Permanent · CHICAGO
SACK OFF 5TH
Dvp District Manager, California
Permanent · LOS ANGELES
SACK OFF 5TH
Dvp District Manager, Northeast (ny, ct, nh, ma)
Permanent · NEW YORK
SACK OFF 5TH
Inventory Control Analyst (Based in ny or nj)
Permanent · NEW YORK
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · DAWSONVILLE
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · WICHITA
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · BARABOO
UNDER ARMOUR
Stock Teammate, Part-Time 5am-10am Shift, $15 Per Hour
Permanent · ASHEVILLE
UNDER ARMOUR
Stock Teammate, Part-Time, $16 Per Hour
Permanent · TULALIP BAY
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · LINCOLN CITY
TUMI
Women's Buyer
Permanent · EDISON
NIKE
North America Brand Planning Director, Consumer Direct Marketing And Integrated Media
Permanent · Beaverton
NIKE
Information Strategy Project Manager
Permanent · Beaverton
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · New York
BLOOMINGDALE'S
Asset Protection Detective, Full Time - ny 59th st
Permanent · New York
URBN
Anthropologie Design Director - Furniture
Permanent · PHILADELPHIA
URBN
Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
URBN
Free People Associate Merchandise Planner
Permanent · PHILADELPHIA
By
Reuters
Published
May 16, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch eyes single or double digit sales growth

By
Reuters
Published
May 16, 2012

BIENNE - Swatch Group , the world's biggest watchmaker, is expecting high single or double-digit sales growth this year as demand from China and for middle and lower-price products holds up in the face of global economic uncertainty.


Photo: Swatch

"We are trying to beat the 8 billion Swiss franc ($8.51 billion) mark this year, which would translate into another record year", Swatch Chief Executive Nick Hayek told reporters on the sidelines of the company's annual general meeting on Wednesday.

The company had sales of 7.14 billion francs last year.

The luxury industry has performed well in the current uncertain economic environment, and strong demand from Asian shoppers has helped lift luxury goods companies' results. Richemont, the world's second-largest luxury goods group, beat expectations with a 43 percent rise in full-year profit on Wednesday.

Hayek said growth for Swatch was mainly coming from the middle and lower-price segments, which has helped to offset slowing demand for high-end watches that has hurt some of its competitors.

"China is exploding," Hayek said referring to strong growth for modestly priced watch brands such as Tissot, Certina and CK but also Swatch's colourful trademark plastic watch.

In mainland China the company is currently experiencing growth in the range of 50 to 70 percent, he said.

Hayek cautioned that current growth rates may not continue indefinitely, however.

"You cannot make a projection that an industry is growing year by year by 20 or 30 percent. That's an unhealthy situation," he said.

To defend its position, Swatch has so far resisted hiking its sales prices despite rising prices for important raw materials such as gold and diamonds, said Nayla Hayek, Swatch president and sister of the CEO.

The company will continue to invest in Switzerland despite the current strong value of the Franc, she said, and she also foreshadowed a higher dividend payment for 2012.

For 2011 Swatch had announced a 15 percent dividend hike earlier this year.

© Thomson Reuters 2023 All rights reserved.