blue color swatch

The biggest watchmaker in the world Swatch are looking into aquiring watch component makers in order to help them reach their sales targets of over 10 billion Swiss francs within the next 4 years. Swatch Group, based in Switzerland and the makers of brands like Omega and Breguet could spend up to 300 million Swiss francs to increase production and another 150 million Swiss francs to improve distribution said Swatch Chief Executive Office Nick Hayek and he added that the company can easily finance this growth with its huge cash reserves. By the end of the year 2010, Swatch Groups cash reserves had increased to over 1.83 billion Swiss francs on the back of a 42% rise in profits for the same year. These figures were higher than estimated and were mainly due to increased sales across Asia and because of demand for luxury watches in places like Hong Kong and China and the Middle East. This comes as the Swiss franc rose substantially against the Euro and the US Dollar in 2010 which squeezed profit margins on exports and despite many industry analysts expecting Swiss watch companies to raise their prices this year Swatch Group said that the outlook for 2011 was 'positive despite the unfavorable currency constellation at present'

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