Swatch Group Mid-Year Forecast : The MoonSwatch watch boosted Omega sales

Swiss watchmaker Swatch, which is expected to reveal its first-half 2022 results in the next two weeks, announced that the launch of its MoonSwatch has boosted sales of the Omega model.

Nick Hayek, Swatch Group CEO, said that “sales of the Speedmaster Moonwatch model, which costs around $7,000, have jumped by more than 50% at Omega retail outlets since the March launch of the MoonSwatch, which is priced at $250” .

Also, the Swatch model, MoonSwatch, has had the effect of rekindling interest in Swatch among young consumers. Swatch has also announced that it will open 25 additional points of sale around the world during the summer.

Omega x Swatch Moonswatch : montre collaboration Swatch et Omega — Omega x Swatch Moonswatch : The Swatch and Omega collaboration watch. © Swatch

What about Swatch’s economic forecasts?

This information complements recent forecasts by ten analysts for Swatch’s first-half 2022 results. The watchmaker, who generates about 40% of its sales in China, saw a dip in its results last April with the resurgence of the pandemic in that region. This would not be a good sign for H1 results.

However, this would not have had a significant impact on Swatch’s economic situation. The latter is expected to have continued to grow in the first six months of 2022, its growth slightly higher than in the previous year, and a turnover however lower than in 2019, which amounted to 4.08 billion Swiss francs (4.1 billion euros).

Swatch is expected to achieve 3,590 million Swiss francs in net sales in S1 2022, compared with 3,392 in the same period last year. Its net profit is also expected to increase in S1 2022: 334 million Swiss francs compared to 270 the previous year.

Lanvin and Lancel reduced their losses in 2022

For his part, Nick Hayek remains confident and is counting on a double-digit increase in revenues and was convinced last March that he would be able to continue the growth of 2021.

Finally, as for forecasts for the rest of the year, analysts are not so optimistic and are betting on a slowdown in Swatch’s growth. To be continued.

Featured photo : © Swatch

What's Your Reaction?

Excited

Happy

In Love

Not Sure

Silly

LUXUS +

[EN] CLAIRE DOMERGUE, A SPECIALIST IN COMMUNICATION IN THE LUXURY SECTOR, HAS SURROUNDED HERSELF WITH EXPERTS TO CREATE THE FIRST MEDIA DEDICATED TO THE ECONOMIC NEWS OF LUXURY AND FASHION. THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. MORE THAN A SPECIALIZED WEBZINE, LUXUS PLUS IS A MULTI-SECTOR INFORMATION SYSTEM, WHICH HAS BECOME THE REFERENCE MONITORING TOOL FOR LUXURY AND FASHION PROFESSIONALS. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. THANKS TO AN INCREASED WATCH AND AN EXCELLENT KNOWLEDGE OF THE SECTOR, WE ARE INTERESTED IN THE MAIN ECONOMIC AND TECHNOLOGICAL STAKES OF FASHION, FINE WATCHMAKING, JEWELRY, GASTRONOMY, COSMETICS, PERFUMES, HOTELS, PRESTIGIOUS REAL ESTATE...********[FR] Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. Ce dernier attire tout particulièrement l’attention de ses lecteurs sur l’ensemble des acteurs majeurs de ces secteurs qui y partagent leurs expériences, visions et savoir-faire. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…