Swatch remains one of the biggest brands of watches in the world. The Swatch Club began as a way of bringing watch collectors together but now, as time has moved on and the brand has developed, The Swatch Club creates a worldwide community of people with similar interests. In Peru, Swatch supports the Proyecto Sofia Mulanovich which developed Peruvian surfing through a three year programme that focuses on environmental protection, healthy living and fair play.
The goal was to create benefits for the environment while supporting farmers who plant the trees. The Swatch Group Social Policy includes employment, training for employees as well as creating good working conditions. Swatch is determined not to see Apple and android companies taking over the market. Instead, Swatch prepares to take those companies on because it is introducing a smartwatch in which is said to have a battery life that will outlast other smartwatches in the market.
The company also came up with a new innovation called Swatch X You which is an online factory that allows you to pick what face, brand, colour, and extras you want for you watch. Swatch partnered with Emersya to create the experience online allowing you to rotate the watch in three dimensions, giving a real realistic perspective of what the product will look like.
We've updated our privacy policy to reflect the new GDPR. View privacy policy Ok, got it. Start your search for a franchise Swatch Share. Looking For A Franchise? European Franchises International Franchises. Top European Franchises. The Production sector reduced losses compared to the first half of The situation in the Production sector varied widely in the second half of the year.
Some areas which mainly produced for third parties continued to report below-average capacity utilization. In other areas, demand exceeded production capacities, which lead to bottlenecks, for example, in production for Blancpain, Omega, Longines and Tissot.
In addition, Omega suffered a day production interruption due to a cyber attack, which led to delivery delays and lost sales. Overall year Despite major losses in the first half of , the Group achieved a positive operating result of CHF 52 million for the entire year under review. Without the business unit Calvin Klein, which will be discontinued during the course of , the operating result would have amounted to CHF 99 million.
Net loss amounted to CHF million. In the year under review, the Group closed retail stores. The resulting one-time special costs incurred amounted to CHF 42 million. In Hong Kong alone, the number of stores was reduced from 92 in the previous year to 38 at the end of Conversely, the brands opened 55 new stores in growth markets. Production of watches, jewelry and components was gradually increased in the past months, but will only reach capacity again in the first half of Net sales in the Electronic Systems segment decreased slightly in local currencies by The operating loss amounted to CHF -6 million.
Excluding Swiss Timing, whose activities for sporting events were, for the most part, either cancelled or postponed due to Covid, would have resulted in an operating profit of CHF 2 million. In December, there was a double-digit increase in segment sales without Swiss Timing over the previous year. Research and development Research and development activities were continued at the same high level as previous years.
This resulted in new patent applications in the year under review previous year: Personnel As a result of closures of retail stores, the situation in Hong Kong, and reduction of Calvin Klein activity, the workforce decreased by Dividend proposal Thanks to the strong operating cash flow of the second half, the Board of Directors of the Swatch Group will propose a dividend of CHF 3.
Outlook Group Management anticipates a strong catch-up in consumption worldwide for watches and jewelry in , as has already been observed in Mainland China after normalization of the health situation. Demand will strengthen further as soon as travel restrictions can be relaxed or lifted. The latter will be launched in additional markets in , including the USA and China. Swatch is pleased with the high demand for its SwatchPAY!
In future, these models can be conveniently configured online — unique in the world — and tokenization on site at a Swatch Store will no longer be necessary. Highlights in Production will be the startup of a new production line for solar watch dials as well as the introduction of new technologies in the polishing sector.
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