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Swatch sees growth in luxury segment in H1 of 2007
14 Aug '07
3 min read
The Group also opened additional boutiques in premier locations. All of this proved a key factor in boosting the Group's market position in key markets and strengthening the share accounted for by retail activities.
Naturally, this resulted in a certain increase in finished product inventories. The Production segment for watches, watch movements and components also posted record sales thanks to strong demand across all areas. Due to substantial expansion of capacities, the Production segment reported a strong growth in the period under review. This was boosted by increased demand from third-party customers as well as Group companies.
Further expansion is planned in order to tackle existing production bottlenecks. There is still a shortage of skilled watchmakers, and the Group is heavily involved in setting up watchmaking schools to redress this deficiency.
Another highly cyclical trend is dictating the environment in which the Electronic Systems segment operates. Increasing pressure on component prices in the mobile telephony sector impacted the development of this segment in the first half of 2007.
Despite a very cautious investment policy, the financial result was substantially higher than in the prior-year period, due among other elements to gains on capital markets and investments. In spite of the weak US dollar and yen, the currency result was also positive as the Group profited from the strong euro.
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Naturally, this resulted in a certain increase in finished product inventories. The Production segment for watches, watch movements and components also posted record sales thanks to strong demand across all areas. Due to substantial expansion of capacities, the Production segment reported a strong growth in the period under review. This was boosted by increased demand from third-party customers as well as Group companies.
Further expansion is planned in order to tackle existing production bottlenecks. There is still a shortage of skilled watchmakers, and the Group is heavily involved in setting up watchmaking schools to redress this deficiency.
Another highly cyclical trend is dictating the environment in which the Electronic Systems segment operates. Increasing pressure on component prices in the mobile telephony sector impacted the development of this segment in the first half of 2007.
Despite a very cautious investment policy, the financial result was substantially higher than in the prior-year period, due among other elements to gains on capital markets and investments. In spite of the weak US dollar and yen, the currency result was also positive as the Group profited from the strong euro.
Click here to view more:
The Swatch Group Ltd
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