Luxurious items gross sales fell sharply prior to now 2 years, as COVID-19 compelled store closures and introduced worldwide tourism to a digital halt. Following the large hit taken through the pandemic, the watch trade has bounced again to progress. Watch trade large Swatch Group simply launched its key figures for 2021. At CHF 7,313 million, internet gross sales are up 30.7% at present change charges or 29.6% at fixed change charges. But, the exercise has not returned to pre-pandemic ranges, as 2019 gross sales have been CHF 8,243 million. Swatch Group anticipates double-digit gross sales progress in native currencies for 2022.
Swatch Group underlines that Mainland China and the USA have been driving the expansion with a document degree of gross sales. Because the pandemic has stopped worldwide journey, a regional shift in gross sales was important. The gross sales within the Group’s personal retail enterprise have been at 2019 ranges regardless of a community discount of twenty-two%. E-commerce is talked about as a powerful contributor to the present efficiency.
Swatch Group additionally underlines the sharp enchancment of their manufacturing sector reflecting the worldwide upturn of the watch trade’s exercise and mentions a pointy improve so as books over the previous few months.
With this rise in revenues, the working revenue jumped again to 14% (CHF 1,021 million) versus 0.9% (CHF 52 million) final yr. The web earnings is CHF 774 million, in contrast with a internet lack of CHF -53 million in 2020.
For extra info, please go to www.swatchgroup.com.