Swatch is rising in chinese market

9 years ago - Published in Finance, Fundamental Analysis

Swatch CEO Nick Hayek claims to be optimistic, despite the difficulties in the Chinese market "We've seen growth in China since July, every month a bit blackberries," particularly as regards the trend of Omega but also that of Blancpain Longines, as he stated in an interview published today on the newspaper "Handelszeitung".

Swatch is taking advantage of the weakness of the British pound due to Brexit says Hayek. "Blancpain, Omega, Longines, Tissot, also Swatch,  are significantly selling more," he adds.

Altogether he believes the watch market is intact: "There is no crisis in Swiss watch industry", in the last five – six years it was recorded an increase between 50 and 70%, while the fluctuations of the Swiss franc have caused a decline of 10-20%.