Nick Hayek, Swatch Group’s CEO, has recently given an interview on “Eco Talk” which airs on on the German-speaking television channel SRF. He appeared more than positive about 2021 and downright exhilarated for 2022. And for good reason of course.
Reason for such optimism is extremely strong performance in the US market, as well as the continuing appetite for luxury watches in the Chinese market. As a result, the group’s turnover is also about to find its pre-pandemic levels which is not a day too soon.
“2021 will be one of the best years in Swatch Group’s history. And 2022 will be a record year for us,” said Hayek. “Swatch Group should achieve a turnover of between 7 and 7.5 billion Swiss francs in 2021 and an operating result (EBIT) of one billion Swiss francs,” he said.
Interesting contrast between this and Chronext IPO delay, feels like a beer conversation to be had w F4!