by jacquie_dealmeida | October 21, 2011 9:00 am
Swatch Group’s first-half sales are a record breaker.
The company reported gross sales from watches and jewellery in 2011 increased 13 per cent to $3.6 billion US, while net sales were up 11 per cent to $3.9 billion US.
“Key contributory factors included not only a combination of strong brands and expansion of the distribution and retail network, but also the production segment, which increased its gross sales by a massive +28.5 per cent at constant rates,” the company said.
“Investments were made on an ongoing basis in a bid to reduce production bottlenecks and there are plans to increase capacity further.”
The results were not all positive. Overvaluation of the Swiss franc against the euro and U.S. greenback decreased gross sales by 12.8 per cent over the same period in 2010.
Source URL: https://www.jewellerybusiness.com/news/swatch-group-sees-record-sales/
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