Sales for Swatch Group down in 2015


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