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Reuters
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Mar 20, 2010
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Swatch Group sees 2010 sales above 6 billion Sfr

By
Reuters
Published
Mar 20, 2010

ZURICH, March 19 (Reuters) - Swatch Group (UHR.VX), the world's largest watchmaker, is aiming for full-year sales of more than 6 billion Swiss francs after seeing a 30 percent sales jump in January and February, its chairman said in an interview.


Tissot, part of the Swatch Group

The group had seen this trend continue in March, Nicolas Hayek was quoted as saying in an interview with Swiss newspaper Le Temps published on Friday 19 March.

But Hayek said this strong growth momentum was likely to ease in the second half of the year once retailers have replenished their stocks.

"Our sales in 2010 should be far above 6 billion Swiss francs ($5.68 billion)," Hayek said.

Hayek also repeated that Swatch Group, best known for its colourful plastic Swatch watches, had the firepower to buy a brand, but he said the group was not actively seeking acquisitions at the moment.

The group, which also owns top brands such as Breguet, Blancpain and Omega, has already said it expects 2010 to be record year for the group.

Watch executives hit a positive note on the first day of Baselworld, the world's largest watch and jewellery fair, and a rise in Swiss watch exports for the second straight month added to signs the Swiss watch industry is firmly on the mend. ($1=1.056 Swiss Franc) (Reporting by Katie Reid and Pascal Schmuck)

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