Swatch Group news and archive

Swatch Group wins second round against activist investor Steven Wood

Zurich - Swiss watchmaker Swatch Group won a second round on Tuesday in its battle with activist investor Steven Wood, whose bid for a board seat was rejected. For the second time, the American investor, who is highly critical of the company's governance, sought a seat on the board of directors. However, his candidacy was rejected by 79.6...

FashionPress Release

World first: Omega certifies a two-hand watch

Two years after the announcement of the Laboratoire de Précision, OMEGA introduces the Constellation Observatory Collection. Using an acoustic testing method combined with optical hand-tracking developed by the Laboratoire de Précision and certified by METAS. The collection’s movements and watches undergo both Chronometer and then Master...

FashionPress Release

Built for adventure, designed with elegance: HydroConquest 2026

Building on nearly two centuries of excellence in Swiss watchmaking, Longines unveils an extensively redesigned HydroConquest collection that blends contemporary aesthetics with proven performance. The new generation embraces bold refinement for every pursuit and is available in 39-mm and 42-mm sizes. The range features six distinct references,...

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Oil at 200 dollars a barrel: Middle East conflict sends shockwaves through fashion

As the global conflict involving Iran escalates, the prospect of oil prices climbing towards 200 dollars a barrel no longer feels implausible. Fashion businesses across the UK and Europe are once again bracing for volatility, as energy markets react sharply to geopolitical risk. From fibre production and manufacturing to freight costs and...

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Swatch Group full-year profit slumps, sales decline

Swiss watchmaking and jewelry company Swatch Group AG (SWGNF) on Friday reported significantly weaker full-year results, as lower sales and higher operating expenses weighed on earnings. Profit before tax declined to CHF 158 million from CHF 345 million a year earlier. Operating profit fell to CHF 135 million, compared with CHF 304 million in...

Fashion

Swatch ad sparks controversy over racist depiction

Swiss watchmaker Swatch issued an apology this weekend regarding the racist nature of its recent advertisements. The images showed an Asian model pulling the corners of their eyes upwards and backwards. The images were for the Swatch Essentials collection and were met with a wave of indignant comments on social media. According to Reuters, some...

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Swatch Group's profits plummet in first half

Zurich - Swiss watchmaker Swatch Group published its half-year results on Thursday. The results were heavily affected by weak consumer spending in China, causing its net profit to plummet. The group, owner of the multicoloured plastic watch brand and other brands, including Tissot, Longines and Omega, saw its net profit fall to 17 million Swiss...

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Swatch Group posts sales growth

Swatch Group sales for the full year were 5.2 percent above the previous year to 7.9 billion Swiss francs. The company said in a statement that net profit rose by 8.1 percent to 890 million francs since there was a negative currency impact of 554 million Swiss francs or 7.4 percent, which weighed on profitability. The rapid erosion of major...

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Switch Group snaps up New Bond Street property

Watch manufacturer Swatch Group has announced the acquisition of a property on London’s New Bond Street in a transaction worth 90 million Swiss francs (81.2 million pounds). The location houses a salon for the group’s owned brand Harry Winston, which had initially launched a store there in 2006, and had later reopened in 2016 following a...

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Swatch Group records 18 percent revenue growth in H1

First half net sales of 4,019 million Swiss francs at Swatch Group, increased 18 percent to the previous year at constant exchange rates and by 11.3 percent at current rates, despite a massive negative currency impact of 242 million Swiss francs. The company said in a statement that net sales exceeded the previous record half-year 2018 by 8.5...

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Omega watches to see price increases

Omega, the renowned Swiss watchmaker, is preparing for another round of price hikes following a previous increase earlier this year. Swatch Group AG, the owner of Omega, has been closely monitoring the luxury market, where entry-level Rolex prices have skyrocketed, often reaching twice the cost of an Omega timepiece. Omega contributes around 60...

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Swatch forecasts record 2023 sales as China lifts Covid curbs

Swatch reported net sales of 7,499 million Swiss francs, up 4.6 percent for the year at constant exchange rates, or up 2.5 percent at current rates. In view of the strong position of the group brands in all segments worldwide and the robust numbers in January for Mainland China, the company aims to achieve a record year in 2023. “After the end...