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AMERICA'S NO. 1 WATCH MAGAZINE Swatch Group Terminates Partnership With Tiffany & Co. Citing Material Breach of ContractSeptember 12, 2011 By 1 Comment  Swatch Group announced today that it has terminated its cooperation contracts with Tiffany & Co. According to Swatch Group, "This action became necessary following Tiffany & Co’s systematic efforts to block and delay development of the business." … [Read more...] Comco Opens New Swatch Group InvestigationJune 9, 2011 By Leave a Comment  The Swiss Competition Commission (Comco) has announced that it is opening an investigation against Swatch Group arising out of the Group's plan to stop supplying mechanical watch movements and components to third parties. Comco said yesterday that the purpose of the investigation is to determine whether Swatch Group's decision is an abuse of its dominant market position and so a violation of the … [Read more...] Swatch Group First Half Sales and Profits Jump to Record LevelsAugust 4, 2010 By Leave a Comment  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...] Nayla Hayek Named Swatch Group ChairwomanJuly 2, 2010 By Leave a Comment  Nayla Hayek has been named chairwoman of the Swatch Group Ltd., succeeding her father, Nicolas G. Hayek, who died of heart failure at Swatch Group headquarters in Bienne, Switzerland on June 28. She was elected by a unanimous vote of the board of directors on June 30. Previously, she was vice-chairman of the board. … [Read more...] Switzerland Mourns Its Watch “Messiah”July 1, 2010 By Leave a Comment  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 Chairman Nicolas G. Hayek Dies at Age 82June 28, 2010 By Leave a Comment  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...] Swatch Group Enjoys Rebound in Second Half of 2009January 28, 2010 By Leave a Comment  Swatch Group struck a positive tone in its 2009 financial report as results for the second half of the year were much stronger than the first half, when watch sales were down 16.4%. Watch sales finished the year down 5.5% at a constant rate, largely outperforming Swiss Watch Federation export sales figures for the same period. The Group forecasts improved sales and margins in 2010. … [Read more...] Swatch Group Chairman Wants to Stop Deliveries to CompetitorsDecember 29, 2009 By Leave a Comment  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...] Swiss Competition Commission Opens New ETA InvestigationSeptember 16, 2009 By 2 Comments  Swatch Group announced yesterday that the Swiss Competition Commission (COMCO) has opened a new investigation against ETA Manufacture Horlogère SA. The Swatch Group statement notes that this is not the first time that the COMCO has investigated a company of the Swatch Group, and that the Swatch Group is confident that the results of this investigation will again be positive for ETA (a reference … [Read more...] Swatch Group Sales Beat Industry AveragesAugust 19, 2009 By Leave a Comment  Swatch Group AG’s half-year 2009 financial report sent the company’s shares higher on the strength of sales that outperformed industry averages and an indication that “signs of recovery” are at hand. For the first half of 2009, gross sales for the watch segment fell 16.4% to CHF 1,960 million, compared with export figures for the same period falling 26.4% by value. Swatch Group shares … [Read more...] Tourbillon Boutique Opens on Wall StreetMay 3, 2009 By Leave a Comment  The Swatch Group's multi-brand Tourbillon boutique is now open for business on Wall Street. Along with the Omega boutique on Fifth Avenue, this is the second upscale Swatch Group-owned retail location to open in New York City in April. The Wall Street location is the second U.S.A. Tourbillon boutique; the first is in Southern California's South Coast Plaza. … [Read more...] WATCHTIME WEEKLY NEWSLETTER
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ADVERTISEMENTWATCH TO WATCH Panerai Tuttonero Luminor 1950 3 Days GMT Automatic Ceramica"Tuttonero" is Italian for "all black," so it made the perfect nickname for this new model from Panerai, a brand with a strong Florentine heritage. The full name, as per usual with Panerai, is a … [Read More...] More Watches To WatchADVERTISEMENTADVERTISEMENTADVERTISEMENTCONNECT WITH WATCHTIME
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