© Reuters. FILE PHOTO: People walk past a shop of Swiss watch manufacturer Swatch in Bern, Switzerland March 18, 2021. Picture taken March 18, 2021. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – Swatch Group (SIX:) reported record growth for the first six months of the year, benefiting from the removal of the final COVID-related restrictions in Asia, the watchmaker said on Thursday.
Net sales reached 4.019 billion Swiss francs ($4.64 billion), up 18% from last year and marking a new half-year record.
The maker of Omega watches, said it saw the strongest growth in the lowest price segment and predicted “excellent prospects” for the remainder of the year in all markets and price segments.
Swatch said it would be introducing new products focused on, but not exclusive to, the lower and mid-range segments.
“The only cloud on the horizon remains the unfavorable currency environment,” the watchmaker said.
($1 = 0.8658 Swiss francs)
