Record Sales at Swatch Group, but Strong Swiss Franc Cuts Margins

Watch and jewelry sales at the Swatch Group rose 24 percent at constant exchange rates to 2.9 billion Swiss francs ($3.6 billion) for the first half of 2011. At current exchange rates the increase was 13.3 percent for the six-month period. Total sales increased 24.2 percent at constant exchange rates to a record $3.36 billion Swiss francs ($4.17 billion). At current exchange rates the increase