swatch financial news

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

Swatchwatches have experienced a surge in popularity in recentmonths, perhaps driven by the brand's fashionable designs and retrostyling.New figures released by Swatch Group AG showed that sales in thefirst half of 2010 jumped by 22 per cent, resulting in companygrowth of 55 per cent.Chairman Nick Hayek, who prepared the statistics prior to hisdeath in late June from heart failure, said: "We have been able togrow in all regions and across all our price segments."His daughter Nayla has since inherited his role of chair of theboard.Last month, Emma Messenger of the Daily Mail said Swatch watchesare iconic timepieces, as they pioneered the idea that watchescould be fun and trendy without costing a fortune.The classic Swatch plastic style was introduced in 1980 and thewriter said it has since enjoyed lasting popularity from people inall walks of life.