FinancialsJul 09, 2021
Watches of Switzerland’s Sales Soar as Retailer Expands Into EU FinancialsJul 14, 2021
Swatch Group Swings to a Profit in H1
Plus, how the watch company is benefiting from the global microchip shortage.
A Constellation Co-Axial Master Chronometer 39MM ($20,650) by Swatch-owned brand Omega. The parent company saw sales rise 55 percent in the first half of its fiscal year. (Image courtesy of Omega)
Biel/Bienne, Switzerland—Swatch Group swung to a profit in the first half of its fiscal year as shoppers slowly returned to stores.
In H1, Swatch’s net sales jumped 55 percent at constant exchange rates to 3.39 billion Swiss francs ($3.70 billion).
The company reported a net income of 270 million Swiss francs ($294.8 million), compared with a loss of 327 million Swiss francs ($357 million) in the previous first half.
The microchip shortage affecting the global market has been a boon for the technology companies in Swatch’s Electronic Systems segment.
EM Microelectronic-Marin, one of only a few European manufacturers of ultra-low-power chips, made its way into new markets and acquired more customers. Swatch said it plans to “invest heavily” in the expansion of production capacity in Marin over the next few years.
Overall, sales recovery improved from month to month, said Swatch, with high growth rates seen in the U.S., China, Macau, and Russia.
Swatch’s number of employees fell 3 percent following the closure of 135 retail stores. In the first half of 2021, 36 new stores were opened.
Related stories will be right here …
In H1, Swatch’s net sales jumped 55 percent at constant exchange rates to 3.39 billion Swiss francs ($3.70 billion).
The company reported a net income of 270 million Swiss francs ($294.8 million), compared with a loss of 327 million Swiss francs ($357 million) in the previous first half.
The microchip shortage affecting the global market has been a boon for the technology companies in Swatch’s Electronic Systems segment.
EM Microelectronic-Marin, one of only a few European manufacturers of ultra-low-power chips, made its way into new markets and acquired more customers. Swatch said it plans to “invest heavily” in the expansion of production capacity in Marin over the next few years.
Overall, sales recovery improved from month to month, said Swatch, with high growth rates seen in the U.S., China, Macau, and Russia.
Swatch’s number of employees fell 3 percent following the closure of 135 retail stores. In the first half of 2021, 36 new stores were opened.
Its retail stores posted above-average growth as well as a boost in e-commerce sales.
Swatch said the result “once again confirms the importance of brick-and-mortar stores as well as e-commerce as separate and additional sales channels.”
However, sales in airports and travel destinations in the first half of 2021 were still “significantly below” pre-pandemic 2019 levels.
Still, the watch company is hopeful as it looks to the year ahead, noting an ease of COVID-19 restrictions and a return of tourists.
“The already very high consumer demand will be enhanced by the further easing of COVID restrictions in many markets and generate additional growth,” said Swatch in a statement about its results.
By brand, demand was “very strong” for Harry Winston jewelry as three new flagship stores opened in Beijing, Shenzhen, and Milan.
Blancpain also put on a strong performance as it battled order backlogs and faced the challenge of quickly increasing production capacity.
Omega, the official timekeeper of The Olympic Summer Games, will be in the spotlight as the event opens later this month.
In September, in conjunction with the release of the new James Bond film “No Time to Die,” Omega will showcase its James Bond Seamaster Co-Axial Master Chronometer.
Tissot’s T-Touch Connect Solar watches will be introduced in Japan and other new markets following its debut in China and the U.S.
The Swatch brand launched new bioplastic and bioceramic models and has plans to up production capacity in the next months.
More on Financials
The Latest
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
