Swatch Group hoping to add component makers

First published: 25-02-2011

Watch fans have been told that Swatch Group is looking to acquire component makers to boost its annual sales.

The well-known Swiss watchmaker is hoping to drive sales per year to CHF 10 billion (£6 billion) within the next four years, with between 250 and 300 million francs possibly being spent in order to increase the capacity.

Furthermore, Nick Hayek, chief executive of Swatch, also revealed that another CHF 150 million could be splashed out on distribution costs.

However, to illustrate the importance of the strategy, he commented: "There are some companies around that would deserve better management, and if we would take them over, it would be added value for these companies and their shareholders."

Swatch has already made a serious impact on the watchmaking industry, including being the maker behind Omega watches, which has recently revealed two new timepieces for its Constellation range.

The Constellation Jewellery Quartz 27mm and Constellation Luxury Edition Co-Axial 35mm are both highlighted by the fact that there are entirely splashed in red-gold tones, Watch Luxus reported.
 

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