×
142
Fashion Jobs
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
PUMA
Project Manager- Operations
Permanent · Bengaluru
PUMA
Manager- Logistics Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
By
AFP
Published
Mar 10, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch sees exceptional growth in 2011

By
AFP
Published
Mar 10, 2011

The world's biggest watchmaker Swatch said Thursday that it expects exceptional growth in 2011 and aims for annual sales of 10 billion francs (7.7 billion euros, $10.7 billion) in about three years.

Swatch
Swatch watches

"We are in an exceptional situation. All the segments of Swatch met with extraordinary growth. The demand in the markets is great," Swatch chief executive Nick Hayek said.

He said such growth should allow the group to generate annual revenues of 10 billion francs in about three years' time.

Swatch, which encompasses brands from the eponymous colourful plastic watch to classic names such as like Blancpain and Omega, posted 1.1 billion francs in net profit on sales of 6.4 billion francs for 2010.

Amid the global economic recovery, Hayek noted that strong demand this year was putting pressure on its stocks.

"The difficulty for us is delivery of the product in 2011, it will be the big challenge. It is not consumption or demand," he said.

"We came from the 2009 when everything slowed. There are practically no stocks. There is very little product," he said.

The shortage is pushing the watchmaker to halt its supply of parts to the rest of the Swiss watchmaking industry.

"We want to stop as soon as possible" these deliveries, said Hayek.

The Swatch boss also warned of further impact from the strengthening Swiss franc on earnings.

The unfavourable exchange rate has already had a negative impact of 100 million francs on the first two months of the year, Hayek said, and the company could not offset this by adjusting prices.

"You cannot increase prices as you wish. We cannot react in the short term," Hayek said, adding that the group will try "to find other means" the minimise the impact.BIENNE, Switzerland, March 10, 2011 (AFP)

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.