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Swatch CEO says annual sales should reach $14b in 2015: Paper

Published on Mar 30, 2014 5:54 PM
 
Sales at Swatch, the world's biggest watchmaker, could reach 10 billion Swiss francs (S$14 billion) next year, its chief executive said in a newspaper interview on Sunday, March 30, 2014. -- FILE PHOTO: REUTERS

ZURICH (REUTERS) - Sales at Swatch, the world's biggest watchmaker, could reach 10 billion Swiss francs (S$14 billion) next year, its chief executive said in a newspaper interview on Sunday.

"Swatch should achieve 10 billion francs in sales in 2015, but if foreign exchange rates remain as miserable as they are now, it could happen later," Chief Executive Nick Hayek was quoted as telling Neue Zuercher Zeitung am Sonntag.

In January Swatch reported sales last year of 8.817 francs and Hayek has forecast a double-digit percentage rise in 2014.

Earlier this month the company also said it expected a rise in sales in China this year, despite the market being hit last year by a government crackdown on luxury gift-giving by officials. Swatch has fared better than others because it is less exposed to the high-end segment.