Swatch news and archive

'Incomparable' 50 million USD pink diamond smashes record at Geneva auction

An exceptionally rare pink diamond of nearly 19 carats fetched 50.3 million Swiss francs (50 million USD, 44 million euros) at auction in Geneva Tuesday, Christie's said, setting a new per-carat record for a stone of its kind. The Pink Legacy, which once belonged to the Oppenheimer family who for decades ran the De Beers diamond-mining company,...

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Swatch makes up for lost time with record sales

Swatch, the world's top watchmaker, on Wednesday announced an all-time record in half-year sales, saying it has millennials to thank for bringing wristwatches back. Swatch is best known for its brightly coloured plastic-cased watches, but also owns several luxury brands including Breguet and Omega. Long the world's biggest watchmaker, Swatch has...

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Asia rebound sends Swatch profits ticking higher

Swatch has handily outrun the global watch crisis, it said Tuesday, with revived sales in Asia pushing 2017 profits more than 27 percent higher from the previous year. The world's largest watchmaker saw its net profit swell to 755 million Swiss francs ($812 million, 651 million euros), more than a quarter higher than in 2016. Swatch, which is...

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Swatch says profits up in first half 2017

Swiss watchmaker Swatch said Friday that its profits rose in the first six months, but its performance was dampened by the strength of the Swiss franc. "The overvalued Swiss franc dampened growth in the first half of the year," Swatch said in its first half report. "As in the previous year, the first half of 2017 was characterised by worldwide...

Business

Swatch profits slow as attacks hit key markets

Swatch Group, the world's largest watchmaker, posted a 52-percent fall in first-half profits on Thursday, with sales hurt by declining tourism after attacks in France and Belgium. The Swiss-based company also said revenues were down in its crucial market of Hong Kong. The entire luxury watch sector has seen trimmed sales on the island since...

Business

Swatch shares unhinged after earnings warning

Shares in Swatch plunged more than 11 percent on Friday after the Swiss watch group warned that sales had slumped and profit had plunged in the first half of the year. Although full publication of results is not expected until next week, the company said first half sales had fallen by 12 due to drops "in important markets like Hong Kong and...

Fashion

Swatch to launch eyewear with Safilo

London - Swatch is moving “beyond timepieces” after signing a five-year partnership agreement with Italian eyewear manufacturer and developer Safilo. The deal will see Safilo and Swatch co-designing the “creative, playful and lifestyle oriented” eyewear collections in line with the timepiece company’s DNA, and the debut ‘Swatch The Eyes’...

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Hit by strong franc, Swatch profits tick lower

Swatch on Wednesday posted a 21-percent-drop in its annual net profit, as the world's biggest watch group was slammed by a strong Swiss franc and a struggling timepiece sector. Last year, the Swiss watchmaker saw its net profit plummet to 1.1 billion Swiss francs (1.08 billion dollars, 990 million euros), dropping by more than a fifth from 2014,...

Fashion Featured

Turbulent time for Swiss watchmakers in China

Swiss watchmakers are facing turbulent times in one of their top markets, as the already shrinking luxury sales in China are compounded by the recent devaluation of the yuan. Global financial markets are still reeling from the Chinese central bank's sudden devaluation of the yuan earlier this month, which allowed the currency to plunge nearly...

Business

Swatch plans to add to smartwatch range

New York - No one is letting Apple have the sole monopoly on the smartwatch. Swatch's CEO Nick Hayek was quoted saying to Swiss newspaper Tages-Anzeiger "Our product is called Touch Zero One and that gives enough room for Zero Five, Zero Nine. The Touch Zero One is not the end of the progression." While the plan is only so concrete plan, it is...

Fashion Featured

Swatch to launch family of smart watches

Anyone who thought that Apple was going to be the only one taking a piece of the smart watch pie was obviously living in some delusional reality. Swatch Group announced on Thursday, March 12th, 2015 that they will be releasing a collection of touch screen “smart” watch pieces aimed at special interest groups. The first watch in the collection...

BusinessFeatured

Dutch court rules in Tiffany's favor against Swatch

It’s the year of lawsuits in the fashion industry apparently. First Converse’s lawsuit against almost everyone under the sun is still going, and now the ruling in the ongoing battle between Swatch and Tiffany has come out. On Wednesday a three judge panel in Amsterdam ruled in favor of Tiffany and Co. in a case involving a 419 million dollar...