×
2 513
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots-Liverpool Street, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots-Handforth Dean, Wilmslow - 15 Hours / Week - Part Time, Permanent
Permanent · Wilmslow
ESTÉE LAUDER
Clinique - Consultant - Bentalls, Kingston- 21.5 Hours / 3 Days / Week - Part Time, Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
la Mer - Business Manager - Flannels, Meadowhall - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 17.5 Hours / 3 Days - Part Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots, Warrington - 17 Hours - Part Time, Permanent
Permanent · Warrington
ESTÉE LAUDER
The Estée Lauder Companies - IT Service Desk Manager UK
Permanent · Fareham
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part Time, Permanent
Permanent · Bishop's Stortford
JOHN LEWIS
Contract Sales Manager
Permanent · DARWEN
PUMA
Cobra Puma Golf - Sales Support Coordinator
Permanent · Castleford
JOHN LEWIS
Loss Prevention Partner
Permanent · LEICESTER
HEAD OFFICE
Team Manager/Chef Victoria Head Office
Permanent · LONDON
VF INTERNATIONAL
Account Coordinator - Italian Speaking - Vans
Permanent · NOTTINGHAM
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
DR. MARTENS
Finance Analyst
Permanent · LONDON
MULBERRY
Lifetime Service Centre, Raw Materials Stock Coordinator
Permanent · CHILCOMPTON
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip Officer
Permanent · LONDON
AUTUMNPAPER LIMITED
Alexander Mcqueen Decision Intelligence Manager
Permanent · LONDON
ON RUNNING
Technical Representative
Permanent · LONDON
DEBENHAMS
Business Development Manager
Permanent · LONDON
Ads
Published
Jan 25, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch Group back in the black on sales recovery

Published
Jan 25, 2022

Swatch Group had good news on Tuesday as it made a 2021 profit on the back of rising sales. And it expects double-digit local currency sales growth this year too.


Swatch



It meant the company made a net profit of CHF774 million (€747m/£627m/$845m) last year, after a loss of CHF53 million in 2020. Currency-neutral sales rose almost 30% to CHF7.31 billion. 

Net sales rose 30.7%, or 29.6% currency-neutral, to reach CHF7.313 billion. That still doesn’t put its sales back the pre-pandemic levels, however. In 2019, the company's global sales were CHF8.2 billion. However, a double-digit rise this year would either put it close to that figure or exceed it.

Last year, operating profit rose to CHF1.021 billion from CHF52 million. And the company said its operating margin surged to 14% from 0.9% a year ago and was even higher than the pre-pandemic 12.9%.

The Watches & Jewelry segment (excluding Production) had an even stronger operating margin of 17.7% for the entire year and clearly turned in an even better performance as the year progressed as the figure was 18.4% in the second half.

The company, which operates the eponymous Swatch brand, as well as making watch and jewellery brands such as Longines, Balmain, Harry Winston, Tissot and Omega, benefited from a wider recovery in the Swiss watches sector as Covid-linked lockdowns were eased.

That said, it still faces pressures, including market share that’s being lost to luxury rivals such as Rolex and smartwatches like those made — and heavily marketed — by tech giants like Apple

But Swatch Group was upbeat and said its prediction of double-digit sales growth in the current year will be “ensured by numerous, and in some cases, spectacular new products from the brands in all segments. Omega, as timekeeper for the Olympic Winter Games in Beijing, will be present worldwide in the media in February, and in September, Tissot, as timekeeper for the Asian Games in Hangzhou, will be visible far beyond the Chinese market”. 

Additionally, at the end of 2021, order books in the Electronic Systems segment were twice as high as at the end of 2019, which will lead to sales growth there in the current year. 

Copyright © 2022 FashionNetwork.com All rights reserved.