The Swatch Group is the world’s biggest watchmaking player, with a market capitalisation of $17.22bn. It employs over 35,600 people in 50 countries and controls a portfolio of popular brands, such as Harry Winston, Blancpain, Omega, Longines and Tissot. The firm is led by chairwoman Nayla and CEO Nick (below), who took over the publicly traded firm after the death of their father, Nicolas.
According to its half year results in July 2015, the group’s net sales were up 3.6 percent to $4.252bn. Significantly, its watches and jewellery segment grew by 3.4 percent, while the Swiss watch industry as a whole saw a decline of 1.1 percent overall.
Another headline move last year was also the fact that its $400m legal battle against US jeweller Tiffany & Co, over their failed joint venture to produce and market watches, was set aside by an Amsterdam court. However, the group plans to appeal the decision.
On a more positive note, in November Swatch announced plans to partner with Visa to develop a smartwatch which can be used to pay for goods. The ‘pay-by-the-wrist’ Swatch Bellamy is slated to launch in early 2016.
But this is only the start as Bloomberg reported that the watchmaker has 173 patents ready to roll out over the next few years.
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