Swatch Posts 2004 Results

The 2004 sales of the Swatch Group rose 4.7 percent to $3.49 billion, at current exchange rates, says its annual report, released in March. Double-digit sales in upscale and luxury watches helped propel that gain, said the Group. Watches, its core business, showed the strongest gain. Those sales rose 9.1 percent in 2004, despite adverse effects of currency exchanges, especially the strong Swiss franc vs. a weak dollar. In addition, the Group reported higher sales in movements and electronics. High-end watch sales grew more than 13 percent. In the midprice range, the Tissot and cK brands posted high single-digit growth. In the basic, mass-market range, though, growth in the signature Swatch and children's Flik Flak brands was more subdued. The division producing watch movements and components rebounded in the second half.
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