×
By
Reuters
Published
Sep 23, 2008
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch chairman sees strong growth in H2 - paper

By
Reuters
Published
Sep 23, 2008

ZURICH (Reuters) - Swiss watchmaker Swatch Group is still confident about growth in the second half of the year despite the global economic slowdown, the group's chairman Nicolas Hayek was quoted as saying on Tuesday, September 23th.

"According to our latest estimates it looks as if we will have a very good second half of 2008," Hayek told Swiss newspaper Handelszeitung, according to a summary of an interview published on Tuesday, a day ahead of the paper's publication.

"At the moment we still have strong growth in our various brands," he said.

Demand for high fashion and pricey accessories has been remarkably solid in recent months in spite of pressure on consumer spending, helped by well-heeled buyers from emerging markets who have been shopping in Europe.

But analysts are anticipating growth in the Swiss watch industry to slow in 2009 as an economic downturn and the global credit crisis cut deeper into customers' spending power.

(Reporting by Sven Egenter; Editing by David Holmes)

© Thomson Reuters 2022 All rights reserved.