Swatch watches industry crisis from a pedestal
The fact that watchmaking giant Swatch handily outperformed its competitors last year amid a disastrous export market is no surprise, says one industry insider.
Revenues fell nearly nine per cent last year at Biel-based Swatch Group, a 20-brand empire employing 22,000 people, but the company began 2010 with much fanfare in an atmosphere of near panic among most of its peers.
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