Swatch posts increase in sales for 2008

In 2008, the Swatch Group saw a 6.6 percent increase in its sale of watch and jewellery, while its total gross sales was up by 4.3 percent in local currencies. The company recorded the increase in sales after divestments of automotive components producers in the electronic systems segment and currency losses of CHF 233 million.

Of its product portfolio, its core segments of watches and jewellery and production – was accountable for a 6.5 percent increase at constant rates. These products have remained the forerunners in driving the company’s sales.

The CHF 5 966 million earned as gross sales amount, topped the previous year’s record after strong sales growth between 2006 and 2007, contributing to 22 percent growth in the two years.

Considering the economic slowdown, the company is being cautious of its plans in the coming months, but is confident of sailing through the times. It is anticipating increase in sales during the second half of the year, although marginally.