Swatch Group Archives - Inside Retail Asia
An overview of watchmaker Swatch Group’s international business has revealed record half-year sales, largely led by Asia.
Swatch Group has secured two prime Central stores at rental rates less than half the previous tenants were paying.
Richemont results released Friday in Europe showed group sales down 4 per cent, with watches down 15 per cent.
Swatch Group, the maker of Omega and Tissot timepieces, has reported its lowest first-half profit in seven years.
Swatch Group, parent of Tissot, Omega and Blancpain, amongst other brands, has reported its first earnings decline in six years.
Hong Kong-based luxury watch retailer Hengdeli Holdings has acquired a rival in mainland China. Hengdeli, a retail partner of Swiss company Swatch Group, has invested 469.5 million yuan (US$77.3 million) to acquire 88.6 per cent of Nanchang Hengdeli Co, a retailer of watches, gold jewellery and eyewear in Nanchang City. “The acquisition can strengthen and consolidate the retail market of watches of the group in the central areas of China,” said Hengdeli Holdings in a statement. Hengdeli…
Jaquet Droz opens first store in Shanghai.
Swatch Group has shrugged off the weakening demand for luxury goods in China, reporting high sales.
Two-round reduction is good news for Swiss watch-makers.
Jewellery retailer to roll out new outlets in mainland.