IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
FinancialsFeb 01, 2019
Economic Tensions Take Toll on Swatch Sales
Despite lower-than-expected 2018 sales, the Swiss watch company has high hopes for the year ahead.
Pictured here is Omega’s Seamaster Professional Diver 300, updated for the watch brand’s 25th anniversary and unveiled at Baselworld 2018.
Biel/Bienne, Switzerland—Swatch Group posted lower-than-expected full-year results as trade and economic tensions weighed on sales in Asia and France.
In its annual report, the Swiss watch company reported sales rose nearly 6 percent to 8.48 billion Swiss francs ($8.54 billion) compared with the 7.98 billion Swiss francs ($8.03 billion) reported in 2017.
Its watches and jewelry segment, which includes brands like Tissot and Longines, accounted for 8.21 billion Swiss francs ($8.26 billion) of the total.
Net profit for the year rose nearly 15 percent to 867 million francs ($872.33 million), ahead of the 755 million ($759.64 million) Swiss francs in 2017.
Still, the results fell short of the 8.65 billion francs ($8.70 billion) in sales and 952 million francs ($957.86 million) in profit that Reuters analysts had expected. Its 8 francs ($8.05) per share dividend was also lower than analysts had forecasted.
Looming fears of a trade war coupled with a slowing Chinese economy took its toll on sales of luxury watches both in China and when its residents traveled abroad.
“High growth rates were achieved again in Asia, both in wholesale and in the group’s own retail including e-commerce, although a downturn in demand occurred in the last three months of the year, particularly in wholesale,” Swatch said in a statement.
The company saw positive growth in Japan and North America, but Europe was a bit more complicated. While Great Britain and Switzerland increased sales, France’s “yellow vest” protests, fueled by the belief that the French government’s economic policies favor the rich, cut into end-of-year sales.
Looking ahead, Swatch plans to turn the year’s lemons into lemonade, forecasting that “China will become a major opportunity for the group in 2019, even if ongoing market turbulence remains disruptive.”
The company said 2019 has started off on a high note, experiencing solid growth in the month of January.
In its jewelry segment, Swatch pointed to Harry Winston as a brand gearing up for strong growth in 2019, following its $50.37 million November purchase of the Pink Legacy, an 18.96-carat fancy vivid pink diamond once belonging to the billionaire Oppenheimer family behind De Beers.
In the watch division, the company has high hopes for Blancpain’s Fifty Fathoms collection as well as Omega’s products celebrating the 50th anniversary of the moon landing and the brand’s special edition “Minus 1” collection, launching in the second half of 2019 ahead of
the 2020 Olympic Games in Tokyo.
The company struggled to meet demand for the Longines V.H.P. (Very High Precision) collection after production issues in 2018 but said solving those problems is expected to have a positive impact on the brand in 2019.
Meanwhile, Tissot is expected to introduce its T-Touch smartwatch with its own operating system this year as well, ready to take on the smartwatch competition.
The company introduced Swatch Pay, which works similarly to contactless Apple Pay, in Switzerland and plans to expand to other countries throughout the year.
A total of 212 patent applications were filed in 2018, a 15 percent jump compared with 183 the previous year, amounting to one patent per working day, according to the company.
In February, Swatch plans to launch its first Sistem51 watches with its patented Nivachron balance spring with anti-magnetic properties.
Going forward, the company said it plans to feature anti-magnetic properties in all its mechanical watches, as well as a longer guarantee period, to improve precision and reliability as well as to gain market share and a competitive edge.
More on Financials
The Latest
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
