list swatch watches

Swatch Group the largest manufacturer of wrist watches in the world has reported an estimated 42% gain in its profits for the year 2010. Demand across the far east and especially in China for various brands of watches made by the Swatch Group such as Omega, Breguet and Swatch contributed towards the record profits. This comes after Swatch Group had previously released record sales figures of 6.44 billion Swiss francs in January and said that growth in Asia lead the way. A rise in the value of the Swiss franc versus the US Dollar and the Euro have been squeezing profit margins on exports in the Swiss watch*** industry. The Swiss franc rose 11% against the US Dollar and 19% against the Euro during 2010 and recently many Swiss watch manufacturers announced plans to increase their prices to counter the strength of the Swiss franc.

Swatch watches has paid tribute to its late chairman Nicolas G Hayek, following his death at the age of 82.The company said Mr Hayek, who died yesterday of heart failure, had an "extraordinary vision" that helped him create a strong and sustainable watch*** enterprise.Swatch said he is "rightly recognised" as one of Switzerland's foremost entrepreneurs as a result of his success."Mr Hayek's greatest merit was his enormous contribution to the saving of the Swiss watch industry and the foundation and commercial development of the Swatch Group," it commented.The manufacturer added that his ideas and beliefs will live on through the company, which has guaranteed continuity for managers, directors and company shareholders.Mr Hayek was born in 1928 and is credited with turning the Swiss watch industry around at a time when it faced strong competition from Japan.Indeed, the company has hailed its response to the crisis - the Swatch-a-slim plastic watch - as the most successful wrist watch in history.