Swatch Group saw sales dip in 2015, hurt by the combined strength of the Swiss franc and the weakness in Hong Kong—the world’s biggest market for Swiss watches.
Net sales totaled $8.5 billion in 2015, down 0.9 per cent from the previous year at constant exchange rates and 3 per cent lower at current exchange rates. Net income totaled $1.13 million, a 21 per cent decline from the previous year.
Despite this drop, Swatch says it expects sales to grow 5 percent year-over-year in 2016 with positive growth in January—particularly in mainland China. The watchmaker also notes that Omega’s sponsorship of this summer’s Olympics Games and Tissot’s new position as the official timekeeper for the NBA, WNBA and
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
