Latest news with #Tissot
Yahoo
17-07-2025
- Business
- Yahoo
Swatch CEO ready to accept lower profit after tough first half
(Reuters) -Swatch Chief Executive Nick Hayek is counting on improvements in China in the second half of 2025, he said on Thursday, but is also ready to accept lower profits after the Swiss watchmaker's first half profit plunged. "It will not be a revolution, it will not be massive, but it's a trend in the right direction," Hayek told Reuters, referring to an improvement in Chinese consumer demand. Swatch, whose brands include Omega and Tissot, has been struggling with weak demand in China - which makes up 24% of group sales - for over a year, with sales once more sliding in the first half of 2025. The company would deal with the downturn, and had no plans to cut jobs in Switzerland, Hayek said. "We can cope with it. We can also accept to have less profits," Hayek said. "But we stick with our people." "We train them. We have our factories. We have our know-how. If there is a slowdown and the capacities cannot be filled, we start to develop new products."
Reuters
17-07-2025
- Business
- Reuters
Swatch CEO ready to accept lower profit after tough first half
July 17 (Reuters) - Swatch (UHR.S), opens new tab Chief Executive Nick Hayek is counting on improvements in China in the second half of 2025, he said on Thursday, but would not cut jobs in the pursuit of profits. "It will not be a revolution, it will not be massive, but it's a trend in the right direction," Hayek told Reuters, referring to an improvement in Chinese consumer demand. Swatch, whose brands include Omega and Tissot, has been struggling with weak demand in China - which makes up 24% of group sales - for over a year, with sales once more sliding in the first half of 2025. The company would deal with the downturn, and had no plans to cut jobs in Switzerland, Hayek said. Swatch's share price has fallen 17% this year, but Hayek said he was taking a long-term approach. "We can cope with it. We can also accept to have less profits," Hayek said. "But we stick with our people." "We train them. We have our factories. We have our know-how. If there is a slowdown and the capacities cannot be filled, we start to develop new products." Hayek, the son of Swatch Group's founder, also said that while "it would be nice," he has no plans to delist the company. In May the company had come under pressure when American investor Steven Wood, founder of U.S. firm GreenWood Investors, sought a spot on the board. The motion was rejected at the annual general meeting. "I saw him once because he presented himself as a potential investor," Hayek said, adding that without knowledge of the Swiss watch industry, the AGM had good reasons to say no.
France 24
17-07-2025
- Business
- France 24
Swatch profits plunge on weak China sales
Net sales fell 11.2 percent to 3.1 billion Swiss francs ($3.8 billion), while net profit plunged 88 percent to 17 million francs. "The decline in sales is exclusively attributable to China," the company said, adding that sales in other regions reached record levels set in 2023 and 2024. Besides its eponymous Swatch watches, the company owns high-end brands such as Omega, Longines and Tissot, and like other luxury firms the demand of Chinese consumers for Western goods has made it a top market. But Swatch said the region's share in total sales have fallen from a third to just under a quarter as China's economy has struggled, with a real estate crisis hampering consumption by many households. Sales to Chinese wholesalers fell by 30 percent during the first half of the year and were down by 15 percent in Swatch's retail stores. But Swatch said it has seen the first signs of improvement in China and expects an improved market environment in the second half of the year. Meanwhile, first half sales growth reached double digits in North America, India, Turkey, Middle East and Australia. "The USA, Japan and India continue to have great growth potential," it said, adding it expects utilisation of its production capacity to rise in the second half of the year thanks to new product launches.
Reuters
17-07-2025
- Business
- Reuters
Swatch half-year sales miss estimates, dragged by low demand in China
July 17 (Reuters) - Swatch's (UHR.S), opens new tab sales fell in the first half of 2025 as the Swiss watchmaker faces cooling demand in the luxury industry and continued weakness in China, it said on Thursday. The maker of Omega, Longines and Tissot brands, along with its plastic Swatch watches, said its half-year sales fell 7.1% at constant exchange rates to 3.06 billion Swiss francs ($3.82 billion), compared to a year earlier. That missed the 3.2 billion francs expected by analysts polled by LSEG. ($1 = 0.8020 Swiss francs)
Buzz Feed
15-07-2025
- Lifestyle
- Buzz Feed
Here's How I Chose The Watch That I Wore To My Wedding
Some people dream of the dress they'll wear on their wedding day. But unlike most, I've long fantasized about the watch I'd wear as I walk down the aisle. Truth be told, I wasn't exactly sure what it would be until recently — I just knew I wanted a classic-looking timepiece from a respected brand in the watch world. Enter: the Tissot PRX 40-millimeter analog wristwatch. This retro-inspired timepiece features Swiss quartz movement and a 316L stainless steel case, offering both style and durability. The PRX pays homage to Tissot's iconic line of men's watches from the 1970s, echoing the signature tonneau (barrel-shaped) case design from 1978. That's the beauty of Tissot. With a legacy dating back to 1853, the brand has long been respected as a gateway into the world of refined timepieces. Many watch enthusiasts consider Tissot the ideal starting point for collectors looking to elevate their collection without breaking the bank. And with most models priced under $1,000, I'd have to agree. Tissot strikes a balance between timeless design, reliable Swiss movement, and top-notch craftsmanship. It's fair to call Tissot the king of entry-level luxury watch brands — and, in my opinion, the PRX watch model is their crown jewel. The PRX's case measures 40 millimeters in diameter, and is only 10 millimeters thick, giving it a sleek, low-profile silhouette that wears a bit smaller on the wrist — closer to a 38 millimeters in feel. I think it's a great fit for most wrist sizes, but it is available in multiple sizes depending on your preference The version I chose, which has 4.5 stars on Amazon, features a minimal design with a sleek black dial set behind luminescent number markers, as well as lume hour and minute hands. There's also a simple date window. All of this is protected by a scratch-resistant sapphire crystal that's strong enough to withstand your common daily use. Now, this isn't a dive watch, so don't plan on taking it scuba diving. But it is water-resistant up to 100 meters, which makes it more than suitable for swimming or getting caught in the rain. That said, just as a general precaution, I still prefer to take it off before hopping in the shower or pool. With a price point of $415, the Tissot PRX feels like a steal for the quality and style it delivers. And all things considered, it made saying 'I do' to this watch an easy decision. Ahead, see what some reviewers had to say. Get it from Amazon for $415.
