Swatch group sales rose by 14% to a record CHF 8,1 billion during the year 2012. This record is based on the continual demand in Asia and from Asian tourists worldwide who buy most of the Swatch timepieces sold in Europe.
With more than 19 brands, the Swatch Group increased its market share in the watch sector worldwide. According to Global Industry Analysts, Swatch Group sales will reach USD 47 billion by 2017.
The group has two of the most luxurious watch brands in the world: Breguet and Blancpain. These two luxury watch brands were also the most requested by clients.
Swatch’s largest business, watches and jewellery, grew to CHF 7.3 billion last year. The production division, which sells movements and components to many other watchmakers, set another record and increased sales to CHF 2.2 billion.
In a release on its website, Swatch said that as expected, the first ten days of this year indicated positive growth in 2013.
Every year, over CHF 20 billion worth of watches are exported from Switzerland. According to the Federation of the Swiss Watch Industry, more than the half of the total value exported was for the Asian continent during the year 2011.
The asian market, chiefly China and Hong Kong, is the biggest single market for Swiss watches representing up to 30% of sales, followed by the US with 10% and France with 6.7 %.
Swiss timepieces are very coveted around the world. A bright future is dawning for the watchmaking industry in Asia where the demand is getting increasingly significant. The only thing will be to make enough watches to satisfy everyone.
Source : Swissinfo.ch
photo credit: jovike via photopin cc
Bilal Khan
