Swatch Group Reports ‘Excellent’ First Half

Swatch Group, the world's largest watchmaker, said in August that first-half 2007 gross sales climbed 16.7 percent to $2.2 billion, led by watches and jewelry, its core business. That segment rose 20 percent, to $1.7 billion in gross sales. Net sales increased 16.2 percent, with gains in all regions. Net income grew 39.4 percent to $377.7 million. Sales of luxury watches, led by Breguet, Blancpain, and Omega, were particularly strong; popularly priced Swatch saw double-digit growth. Production of watches, movements, and components enjoyed record sales.
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