Watch market hopes boosted by another positive financial report

First published: 21-01-2010

The watch industry seems to be going from strength to strength and will undoubtedly be buoyed by the latest figures announced by the world's largest timepiece producer.

Swatch Group celebrated the third-best year in company history with group gross sales of 5.4 billion Swiss francs (£3.2 billion), representing a decrease of 6.3 per cent on a comparable basis to the previous year.

The second half of 2009 saw a "significant rebound in sales" in the group and December alone saw massive growth, proving to be the best month in 2009 for Swatch Group.

Despite watch segment sales falling by 5.5 per cent, the organisation still "largely outperformed" Swiss Watch Federation export sales in 2009.

Commenting on its current position, Swatch Group said: "To some degree, the economic crisis [of] 2009 has separated the wheat from the chaff.

"This applies especially to the watch industry, where values such as brand awareness, tradition, history and high-quality products count more than ever. Consumers are looking for value and quality."

Swatch Group is operated by Nicolas Hayek, who was instrumental in the recovery of the company during the 1980s before establishing the organisation in 1983.

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