The Swatch Group, the Swiss maker of watches and luxury jewelry saw its first half profits plunge due to the luxury market crisis in China and warned Monday the key market was likely to remain difficult throughout the rest of the year. Profits tumbled 70.5% to 147 million Swiss francs ($164 million) on a 14%
By Bloomberg Published Jul 15, 2024 Download Print Text size aA+ aA- By Bloomberg Published Jul 15, 2024 Swatch Group AG said sales and profit fell sharply amid a China-led slowdown for luxury watchmakers. Swatch The Swiss watchmaking conglomerate, whose brands include Omega, Blancpain and jeweler Harry Winston, reported a 14% drop in sales to
Published: Mon 15 Jul 2024, 11:20 AM Last updated: Mon 15 Jul 2024, 12:22 PM Anant Ambani, son of billionaires Mukesh Ambani and Nita Ambani, married Radhika Merchant in an opulent ceremony on July 12. Highlighting the lavish event, Anant gifted his groomsmen limited-edition Audemars Piguet luxury watches, each valued at over Rs2 crore (approximately
At CHF 3,445 million, the sales of the Swatch Group, the Swiss powerhouse owner of Omega, Longines or Tissot, are down 14.3% at constant exchange rates and 10.7% at constant rates. The declining sales strongly impact the operating profit at CHF 204 million against CHF 686 million for the previous year. Swatch Group advises that