Swatch Sales Reach $7.5 Billion in 2011

Ongoing overvaluation of the Swiss Franc, particularly against the U.S. dollar and the euro, had a negative impact of CHF 696 million ($734.4 million), or 10.8 percent on group sales. Despite this, sales in Swiss Francs increased by 10.9 percent over the previous record year of 2010.

Swatch brands saw significant growth across all regions and price segments. In particular, the Watches & Jewelry segment experienced a 26.1 percent increase in sales at constant rates to CHF 6.3 billion ($6.65 billion).

The company attributed the sales increase to investment in retail activities as well as numerous marketing offensives throughout the world.

“Despite the strongly negative currency impact during the course of the year and our traditionally defensive policy concerning price increases, group management expects good results for operating profit and net income,” the company said.