Swatch Group's gross sales for the first half of 2010 exceeded SFr.3 billion for the first time ever, topping the 2008 record, and the future looks bright, thanks largely to China and Russia. The Group's Chief Executive Nick Hayek told Reuters "We do not see what could keep us from achieving record sales and profit in 2010," though he added that exchange rates and gold prices present continued … [Read more...]
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Switzerland has responded to the sudden death of Swatch Group Chairman Nicolas G. Hayek on June 28 with a rare outpouring of grief, praise, and appreciation. Hayek, 82, was born in Beirut, Lebanon, but grew up in Switzerland and spent his entire professional life there. Hayek has been a prominent public figure in the country for four decades and one of the country’s most famous and, ultimately, … [Read more...]
Swatch Group AG founder and chairman Nicolas Hayek died unexpectedly from heart failure at his office earlier today. He was 82. Hayek, a colorful entrepreneur and one of Switzerland's leading businessmen, was credited with saving the Swiss watch industry. … [Read more...]
Reuters is reporting that in a recent interview published in the Swiss daily l'agefi, Swatch Group Chairman Nicolas Hayek said the group plans to stop selling watch parts to other brands. Swatch Group supplies movements and crucial components to many brands through its ETA unit. "We no longer intend to produce or deliver to third-party watchmakers," Hayek was quoted as saying. … [Read more...]