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Watch manufacturer Swatch teamed up with Grandlife to stage an unusual interactive promotional event at the Tribeca Grand Hotel in New York on Friday 11th February, with Swatch using the social micro blogging website Twitter to promote the event. A dress which was made completely from Swatch pastel coloured watches was paraded in front of the event audience by a model who was named as 'Swatch Girl', in total the watch dress consisted of 107 blue, purple and white Swatch watches from the new pastel coloured collection. Anyone who had attended the event was given the chance of getting their hands on one of these pastel Swatch watches simply by sending a tweet to the Swatch Twitter page @swatchus and the unique twist was that the watch would then be removed from the model as tweets came in. The watch dress itself had taken around 2 hours to fit to the model and the event started at midnight. Tweets started coming in faster than anticipated and by 1.30 am all the watches were gone, although many male event goers were left disappointed as the model was wearing another dress underneath. All in all the event was a great success for Swatch and a fantastic promotional idea, and according to Mashable Swatch estimated that around 400,000 people had found out about the event just through Twitter alone.

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'