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Swatch Group 2008 Q4 Sales Down

SwatchGroup Busines Down

Swatch Group AG, the Biel, Switzerland-based wristwatch conglomerate announced that the second half 2008 profit dropped to the lowest level in ten years, as net income declined 25% in the past year. This news continues Swatch Group’s (UHR) downward spiral continues as it has lost over 50% of its value on the Swiss Exchange since May 2008. CEO Nicolas Hayek believes that the beginning of 2009 will be tough, though he maintains that consumers outside the American and Spanish markets remain confident. Industry analysts claim that Hayek’s forecast for “modest growth” for the rest of 2009 is “overly optimistic”.

Swatch Group is one of the most important watch companies in the world not only because of the volume of Swiss watches they sell, but also in innovation and prestige. Here are the companies they hold sorted by niche:

High End:

Breguet
Blancpain
Glashütte
Original
Jaquet Droz
Léon Hatot

High-Mid:

Omega
Tiffany & Co.
Longines Rado

Mid:

Union Glashütte
Tissot
ck watch & jewelry
Balmain
Certina
Mido
Hamilton

Entry:

Swatch
Flik Flak
Endura