Swatch Will “Fight” to Make 8 Billion Swiss Francs in Sales in 2012
Swatch Group, the world’s largest watchmaker, set an ambitious global sales goal for 2012. They strive to top total sales from the previous year by a margin of 1 billion Swiss francs, bringing their total sales up from 7 billion in 2011 to 8 billion in 2012. This is an amount equivalent to nearly 8.5 billion U.S. dollars, and is ambitious in the lethargic economy. Nick Hayek, the chief executive of the company cites two main roadblocks that have decelerated Swatch’s progress towards meeting this monetary milestone: the slowdown in China’s economy growth, and the record peaks in unemployment across the Eurozone. Yet Hayek remains steadfast in his mission, remarking at an 180th anniversary event of Swatch brand Longines, that Swatch will still try to meet the sales target, but as a brand, “We will have to fight.”
Source courtesy of Chicago Tribune. Photos courtesy of Accessories Magazine.
