The return of Swatch — thanks to China | Business News | SupChina

The return of Swatch — thanks to China

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“Chinese consumers powered a stronger than expected increase in sales and a return to profits growth at Swatch last year,” reports the Financial Times (paywall).

  • Swatch, which owns Omega and Tissot, “as well as the eponymous plastic watches, reported net sales rose 5.8 per cent to SFr7.99 billion [$1.07 billion]… with sales accelerating in the second half of the year.”
  • Swatch “bore the brunt of sliding Swiss watch sales in 2015 and 2016,” says the FT, when weak economic growth, competition from smart watches, and China’s anti-corruption campaign seriously weakened sales.
  • Watch exports to China rose almost 19 percent in 2017 — much of that volume was from Switzerland.

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Jeremy Goldkorn

Jeremy Goldkorn is co-founder of the Sinica Podcast and currently edits SupChina and its daily newsletter.