Home Tags Swatch group
Tag: swatch group
Swatch Group sales in the United States have risen by 40% over the first eight months of 2021, according to the company's chairman Nick Hayek.
It will be the first time Swatch Group brands have taken part in a multibrand in-person event since before the pandemic.
Top line global sales for the first half of this year remain 17% below the same period in 2019.
Ms Hayek refuses to blame management mistakes for a fall in sales from CHF 8.2 billion to CHF 5.6 billion in 2020.
Swatch Group watch sales fell faster than those for Rolex and Tudor, leaving Rolex AG the largest watchmaking group in 2020.
Cost cutting measures, including a 10% cut to its global workforce, allowed the group to improve operating margins in the second half of the year and improve net liquidity by CHF 332 million.
Mr Michon will continue with his role as brand president for Omega while broadening his responsibilities over other Swatch Group brands.
The court ruled in favour of the Vortic Watch Company's defense against trademark infringement and counterfeiting in this David and Goliath case.
In a victory for Swatch Group, the only limit on ETA's freedom to compete is that WEKO says it will not be allowed to abuse its dominant market position by undercutting rivals’ prices.
Chief executive Nick Hayek forecasts strong full year profit after "catastrophic impact" of the first six months.