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Watchmaker Swatch apologises for 'slanted eye' ad

Swiss watchmaker Swatch has issued an apology and pulled ads featuring images of an Asian male model pulling the corners of his eyes up and backwards in a "slanted eye" pose.

Business • 18 Aug

Swatch Group is the world's biggest watchmaker

Swatch sales fall 14.3% in first half of 2024

Swatch Group reported a steep fall in first half sales and earnings today as the world's biggest watchmaker struggled with weaker demand in China.

Business • 15 Jul 24

Swatch said that sales growth in China during January had already exceeded the high levels seen in January 2022

Swatch Group positive about Chinese market recovery

Swatch Group is positive about the China market's recovery from the Covid-19 fallout and the return of Chinese tourists abroad, the Swiss watchmaker said today, after it reported a strong start to 2023.

Business • 24 Jan 23

Swatch reported a net profit of 774 million Swiss francs for 2021 from a 53 million loss in 2020

Swatch Group returns to profit, sees strong sales ahead

Swiss watchmaker Swatch Group said it expected double-digit sales growth in local currencies this year after sales and profits recovered in 2021.

Business • 25 Jan 22

Swatch Group's sales jumped more than 50% as demand recovered from the low point of the Covid-19 pandemic

Swatch Group returns to profit as H1 sales jump

Swatch Group returned to profit in the first six months of 2021 and its sales jumped more than 50% as demand recovered from the low point of the Covid-19 pandemic, the Swiss watchmaker said today.

Business • 13 Jul 21

Swatch Group said its net profit fell 11.3% in the first half of 2019

Swatch Group hit by Hong Kong turbulence as sales fall

Swatch Group's net profit fell 11.3% in the first half of 2019 as the Swiss watch maker's sales fell as the company cracked down on unofficial sales and political turbulence in Hong Kong weighed.

Business • 17 Jul 19

Swatch said November, December and January had showed 'very good growth, particularly in China

Swatch sees 'healthy growth' for 2017

Swatch Group has said it expects "healthy growth" for 2017 after net profit nearly halved in 2016, as weak watch sales and overcapacity hit profitability at the world's biggest watchmaker.

Business • 02 Feb 17

Analysts warn the deadly Bastille Day attack in Nice would hurt Swatch's tourist sales for the foreseeable future

Swatch warns of H1 profit slide as sales drop

Swatch Group today said its first-half profit would slide 50-60% on dwindling sales in Hong Kong and Europe.

Business • 15 Jul 16

The Cartier owner said it was hit by weak demand for watches in Hong Kong and Europe

Richemont hit by weak demand in Europe & Hong Kong

Cartier owner Richemont said it did not expect the trading environment to improve soon after underlying sales growth slowed further in the final quarter of its fiscal year and April sales fell by 15%.

Business • 20 May 16

Watch sales represent about half of Richemont's total sales

Richemont shares tumble after warning of tough H2

Weak demand for luxury watches in Hong Kong and Macau spoiled the picture for Cartier-owner Richemont in the six months to September.

Business • 06 Nov 15

Swiss watchmaker posted net profit of €1.5 billion last year

Swatch reports good times in 2013

The world's biggest watch group Swatch today posted a 2013 net profit rise of more than 20%, beating market expectations.

Business • 05 Feb 14

Tiffany cuts its profit outlook for the year

Tiffany ordered to pay Swatch $449m in damages

Tiffany & Co has said a Dutch court ruled that it must pay Swatch Group $449m in damages over their failed joint venture to produce and market watches.

Business • 23 Dec 13

Watches