Swatch Group Swings to a Profit in H1
Plus, how the watch company is benefiting from the global microchip shortage.

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.
The Latest

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.


Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.