The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
First half net sales up 7 percent for Swatch
Though operating profit and net income declined for the Swatch Group in the first half of the year, net sales increased.
Biel/Bienne, Switzerland--Though operating profit and net income declined for the Swatch Group in the first half of the year, net sales increased.
In its half-year report released Tuesday, Swatch Group reported that net sales for the first half of 2014 grew by 7 percent year-over-year at constant exchange rates, from $4.44 billion to $4.54 billon.
Gross sales rose 9 percent to $4.82 billion, compared with $4.63 billion in the first half of last year.
Operating profit decreased 9 percent year-over-year from $1 billion to $920.1 million, partially due to marketing expenses for the 2014 Winter Olympics in Sochi, the company said.
Net income also declined, dropping 12 percent from $851.4 million to $753.8 million. As a percent of net sales, net income fell from 19 percent to 17 percent.
Swatch Group’s Watches & Jewelry segment (including production) recorded a 9 percent year-over-year increase in gross sales at constant exchange rates in the first half of the year. The increase happened despite a fire at the ETA factory late in 2013 that negatively impacted sales by about $221.7 million, the company said.
RELATED CONTENT: Faulty pump believed to be cause of Swatch fire
“Production at ETA has been reorganized so that only minor delays in watch movement production are anticipated in the second half of 2014,” Swatch Group said.
In addition, the company made significant investments in the Harry Winston brand, which Swatch Group purchased in a $1 billion deal from the company now known as Dominion Diamond Corp. in 2013. The investments included a wider product range and increased availability of “high jewelry,” as well as a new watch collection presented at Baselworld 2014. Renovation of Harry Winston retail stores also took place.
Swatch Group said it created more than 800 new jobs in the first six months of the year, with more than 460 of those positions in Switzerland.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.