Swatch watches the future with confidence

First published: 13-07-2009

Swatch watches will bounce back in the second half of the year despite poor sales in the first two quarters, which it believes is owed to the current financial downturn, according to its chief executive officer.

Nick Hayek told Swiss newspaper NZZ am Sonntag that while the beginning of the year was difficult, there will be a "substantial" month-to-month improvement.

He added that it would be a "positive development in comparison to the same time a year ago, which was already hit by the crisis".

Mr Hayek explained that one market has been a particular help in the company being successful in the current climate.

He continued: "The Swatch Group grew extraordinarily strongly in China. In June, we grew in double-digits, above all with Omega, Longines and Tissot."

Last weekend, Mr Hayek's comments were echoed by Ulrich Fischer of Tissot in an interview with the Economic Times, saying that his firm continued to build itself a reputation in emerging markets including India.

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