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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.

The 1980s were the heyday of Swatch, Switzerland's most famous watch producer.However, Swatch watches are *** a huge comeback as the company is embracing past legacies by re-releasing its exclusive range of timepieces with its CreArt Collection, which secures a place in fashion similar to the "Diane Von Furstenberg wrap dress and the Ralph Lauren polo", Kristen Bex of the Examiner stated.She said of the style in the 1980s: "Swatch watches were no longer a functional form to keep time instead they were a unique must have fashion statement worn many times two to three at a time."The designs, including those from New York's Billy the Artist, French rapper Grems, Swiss cartoonist Ted Scapa and designer Matthew Langille, will be re-released for those wanting to own a Swatch watch with true retro chic.Last month, Swatch was named the most trusted and respected brand by Swiss citizens in a national poll.