red swatches

Even though the Swatch Group recently lost it's iconic leader, Nicholas G. Hayek, the company shows no signs of slowing down after reporting recording earnings for the first half of 2010. The world's largest watchmaker reported a 54 percent increase in profits ($446 million US) through June 30th as sales rose to record levels ($2.72 billion US) thanks to strong demand from the fast-growing Chinese market, which represents 25-30 percent of the group's sales. The upbeat report comes just over a year after Swatch reported its worst earning news in a decade.Swatch Group includes Swatch, Omega, Rado, Breguet, Tissot, Hamilton, and many other brands.Related PostsSwiss Watch Titan Nicholas G. Hayek, Dies at 82Swatch Group Upbeat About 2010Omega's Ambitious PlansSwatch Numbers Worst in a Decade

Last years upturn in consumer demand for watches saw Swatch Group recover from the previous dip in sales in 2009. Swatch who manufacture 19 different brand name watches such as Omega, Breguet, Tissot and of course their flagship brand Swatch Watches reported that sales had risen in the year 2010 by around 19 percent to $6.44 billion Swiss Francs. ($6.7 billion USD) In a statement issued by Swatch they say 'The extraordinary strength of our brand portfolio was again reflected in an excellent performance by the Watch segment in practically all markets and price segments, with an increase at constant exchange rates of +28.1%.' Sales in 2010 were even 13% higher than sales from their record year 2008. The increase in sales is partly because of rising demand for watches in places such as Asia and the middle east. Swatch also had good news concerning the forthcoming year reporting that sales in January were in double digit growth and the statement released on the Swatch website continued 'The Swatch Group will further generate dynamic and organic sales growth in 2011 and continue investment in its distribution and the expansion of its production capacities.'