Luxury Watch Group Swatch Revenue Decreased By 500 Million

NickHayek, the chief executive of Swatch group SwatchGroupAG (UHR.VX), Swatch group, held its annual performance Conference on Thursday, when the world's largest P href= //www.sjfzxm.com/news/index_c.asp, watches less than /a, said that the continued strength of the Swiss currency could lead to a reduction of 4-5 billion Swiss francs in the current fiscal year.

< /p >

< p > he further revealed that in February alone, group sales lost 50 million Swiss francs and nearly 6600 in the 2013 fiscal year.

In the fiscal year of 2013, Swatch's revenue increased by 8.3% to 8 billion 820 million Swiss francs, < a href= "//www.sjfzxm.com/news/index_c.asp" > Swatch < /a > GroupAG (UHR.VX).

< /p >

< p > analysts pointed out that the strength of the Swiss franc against the US dollar will affect the sales of SwatchGroupAG (UHR.VX) Swatch in its largest market, Hongkong and the mainland of China, and will also have a greater impact on the Swiss watch industry, which relies on exports to promote growth.

< /p >

< p > NickHayek refused to make specific expectations for revenue in the fiscal year, but he expects the Swiss watch industry to grow by 5-10% throughout the year. In 2013, the Swiss watch industry's export value increased by only 1.9%, reaching 21 billion 830 million Swiss francs.

< /p >

< p > according to the data released by the Swiss watch Federation on Thursday, as of February this year, the total export value of the industry was 3 billion 292 million 500 thousand Swiss francs, an annual increase of 6.8%. The largest and third largest export markets in Hongkong and Mainland China increased by 5.1% and 0.6% to 641 million Swiss francs and 211 million Swiss francs respectively over the same period in February.

< /p >

< p > NickHayek predicts that China's sales will increase this year according to the local a href= "//www.sjfzxm.com/news/index_c.asp" > currency < /a > calculation.

Prior to the group's high-end brand Breguet, Baoji and Omega OMEGA executives said that sales have resumed positive growth since 2014.

< /p >

< p > this annual performance conference was held in the HarryWinston tabulation Workshop on the outskirts of Geneva, Switzerland.

SwatchGroupAG (UHR.VX) Swatch decided to integrate the jewellery brand HarryWinston in the US $750 million plus US $250 million debt to the tabulation system in January 2013 to reduce costs by sharing research and development and production inputs with other brands.

< /p >

< p > NickHayek is optimistic about the income and profitability of HarryWinston, but analysts pointed out that SwatchGroupAG (UHR.VX) Swatch needs to work harder to improve HarryWinston's operating profit margin.

HarryWinston2013's operating profit margin in fiscal year is only 4%, far behind the group's level of 27.4%.

< /p >

< p > HarryWinston currently has 32 stores worldwide, and the group plans to expand its retail network and add independent stores in Hawaii, Paris, Las Vegas and Dusseldorf.

< /p >

P (November 2013), SwatchGroupAG (UHR.VX) Swatch also acquired Dubai watch retailer RivoliInvestmentLLC, which has more than 360 retail outlets in the Middle East.

Direct stores now contribute 20% of the revenue to the group. The group plans to increase its share to 30-35% by expanding its retail network.

< /p >

< p > NickHayek confirms that GoogleInc. (NASDAQ:GOOG) does have contacts with smart watches, but the group is not in a hurry to enter the field.

< /p >