Swatch Group is Optimistic Thanks to Product Diversity
Swatch’s ambitious goal of earning $8.1 billion in 2012 is on track, according to CEO Nick Hayek. Last year’s sales broke records at $7.5 billion for the Swiss watchmaker.
This year’s economic slowdown in China has been a cause of considerable anxiety for producers of high-end watches and other luxury goods, but Hayek says Swatch is uniquely positioned to ride out the storm. “I am far more worried about the increasing influence of finance than I am about possible problems in China,” he said in an interview for the German newspaper Handelsblatt.
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