Swatch Sales Dip 2.8% in 2001

The Swatch Group, the world's largest watchmaker, saw watch sales drop 2.8% in 2001, to almost US$1.8 billion. Several of the Group's prestigious brands, however, showed signs of growth. Sales of watch movements and other components dipped 1.5% (to about US$824.3 million), though in terms of units produced, there was a 1% gain (to 113.4 billion). Total revenues for the conglomerate (including watch and movements production, electronics, retail stores, jewelry, wholesale distribution, and other operations) dipped 1.9% (more than $2.4 billion) for 2001. The Group, which makes and distributes 18 watch brands, released its results at its Biel (Bienne), Switzerland, headquarters in February. In the past two years, the company has integrated the high-end brands Breguet, Leon Hatot, Jacquet Droz, and Glashütte-Original. Capitalizing on the brand names, the Group in 2001 opened three mo
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