Swatch predicts strong growth in 2012
AFP · 2 Mar 2012, 10:22
Published: 02 Mar 2012 10:22 GMT+01:00
Nick Hayek, director of the Swiss group which also owns the Omega and Tissot brands, said January and February had seen double-digit growth but he did not expect this to be sustained throughout the year.
In China, which accounts for 39 percent of Swatch sales, Hayek said Swatch had recorded a "very slight slowdown in growth" for the first two months.
The Chinese are still choosing to spend their cash on Swiss-made watches, he said, while noting a trend towards middle-range brands and away from luxury ones.
The group announced earlier this month an 18.1 percent jump in net profit to 1.3 billion Swiss francs ($1.4 billion) for last year.