Asia powers Swatch Group sales record
An overview of watchmaker Swatch Group’s international business has revealed record half-year sales, largely led by Asia.
The group’s net sales increased by 14.7 per cent during the first half of this year, with growth in all regions led by Asia and America. Its net income has increased by 66.5 per cent to CHF468 million (US$467 million), with a net margin of 11 per cent, compared to the previous year’s 7.6 per cent.
Consumer demand, particularly from millennials, for authentic, innovative brand products is greatly increasing on a worldwide scale regardless of region or price segment. The company sees an increasing interest in pre-owned and vintage products as an immense opportunity for the 18 Swatch Group brands.
Further growth is projected for the second half of this year.