×
81 100
Fashion Jobs
TAPESTRY
Full Time Sales Supervisor
Permanent · Wrentham
HOMEGOODS
Loss Prevention lp Detective
Permanent · Brentwood
MARSHALLS
Loss Prevention Customer Service Associate
Permanent · New York
MARSHALLS
Loss Prevention Customer Service Associate Downtown Crossing Boston
Permanent · Boston
HOMEGOODS
Loss Prevention lp Detective
Permanent · Wentzville
HOMEGOODS
Loss Prevention lp Detective
Permanent · Kirkwood
MARSHALLS
654 Retail lp Detective - Encino
Permanent · Los Angeles
MARSHALLS
378 lp Detective
Permanent · Los Angeles
MARSHALLS
Loss Prevention Customer Service Associate
Permanent · Philadelphia
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Billings
KOHLS
CRM Campaign Analyst *Remote*
Permanent · Menomonee Falls
H&M
sr. Manager, Strategic Tech Sourcing And Procurement
Permanent · New York
MACY'S
Asset Protection Detective, Livingston - Full Time
Permanent · Livingston
MACY'S
Asset Protection Detective, Westminster - Full Time
Permanent · Westminster
MACY'S
Asset Protection Security Guard, Newport Centre - Full Time
Permanent · Jersey City
MACY'S
Asset Protection Detective, Salinas Northridge - Full Time
Permanent · Salinas
MACY'S
Senior Project Manager
Permanent · Johns Creek
MACY'S
Asset Protection Detective, West Dade Miami Int'l - Full Time
Permanent · Miami
MACY'S
Asset Protection Detective, Culver City Center - Full Time
Permanent · Culver City
FOSSIL
Americas Digital Marketing Manager
Permanent · Plano
ULTA BEAUTY, INC.
General Manager
Permanent · North Greenbush
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · North Greenbush
Published
Jan 30, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch upbeat as fashion sector recovers, luxury surges

Published
Jan 30, 2018

It was good news all the way from Swatch on Tuesday as the watch giant said it expects "very positive" growth this year. This follows rising sales and a 28% profits surge in 2017 as demand for Swiss watches rose globally.


Swatch



And Swatch benefitted in particular as its more affordable and more fashion-focused Tissot and Swatch brands won market share. In fact, 2017  saw its basic and mid-range offer doing much better than it has in recent years. And that really matters to the company because it’s such a big player in the market (around two-thirds of the Swiss watches that wholesale for under CHF200 come from the group.) 

While higher-end watches are also selling well and actually saw the strongest increase for the group last year, the growth at the lower end of the price scale must be satisfying for CEO Nick Hayek. It’s the lower end that has suffered most from the decline in the fashion watch sector as consumers use their smartphones as timepieces. 

Of course, the industry has been through a bruising period across the price scale as it navigated changes in consumer behaviour, as well as the impact of wearable technology and a downturn in Chinese shoppers.

But those Chinese consumers are now helping Swatch mount a comeback and it said that it expects good growth this year through its own stores and websites, as well as through multi-brand retailers that stock its labels. It’s targeting a high-single-digit sales rise overall for 2018.

THE NUMBERS

That’s the future, but what about last year? The return to growth in 2017 after two tough years saw net sales rising 5.4% to CHF7.96 billion (€6.86 billion) on a reported basis, or a rise of 5.8% currency-neutral. Importantly too, growth speeded up in the second half (the H1 rise was only 1.2%) and that holds out the potential for more sales rises this year. In fact, December was its second best month ever.

The group hasn’t reported a profit rise for four years but this time said its operating income rose 25% to CHF1 billion and the operating margin rose to 12.6% from 10.7%. Net income rose 28% to CHF733 million. 


Longines



Apple may now be the world’s biggest watch brand, but Swatch’s brands are doing well. Omega is heading towards CHF3 billion in sales annually while Longines is close to CHF2 billion and Tissot has already topped CHF1 billion, Hayek told Bloomberg. He also said Harry Winston could reach CHF1 billion within four years.

The company is upbeat on future sales, as mentioned, even though it still doesn’t sell through globally dominant e-tailer Amazon. It’s in talks with the company but Hayek said the sticking point is Amazon not agreeing to Swatch’s insistence that it does more to fight counterfeits.

Copyright © 2021 FashionNetwork.com All rights reserved.