Swatch sales down in tougher market
SARS outbreaks hits key markets
August 21 2003
Swatch has reported a 10 per cent fall in profits during the first half, with its business hit by the impacts of the SARS virus on its key Asian markets, as well as the strength of the Swiss franc. strength.
The world’s biggest watch group, which operates its own stores and concessions around te world as well as supplying other retailers, reported with sales down 6.6 per cent to 1.82bn francs.
Swatch, whose portfolio of brands also includes the Omega, Rado and Bregue ranges, said it was more optimistic for the second half after better sales in July.
A statement said: “Recent reports from our own retail stores and jewellers confirm this positive trend in August, based on increasing visitor numbers and sales.”
There were strong gains for the Breguet brand, as well as a high profile marketing campaign for Omega featuring celebrities including Pierce Brosnan and Cindy Crawford.
