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Reuters
Published
Jun 28, 2013
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Swatch CEO sees stronger second half

By
Reuters
Published
Jun 28, 2013

ZURICH, Switzerland - Swatch Group is confident that sales of watches will pick up in the second half of the year, its Chief Executive was quoted as saying on Friday.

"I expect a stronger second half," Nick Hayek was quoted as saying on the website of Swiss newspaper Finanz und Wirtschaft. "China is coming back slowly. Japan, the U.S and Russia show a pleasing development."

Luxury companies like Richemont and Swatch have seen growth slow in China since the government started an anti-corruption campaign which has hit purchases of expensive timepieces as gifts for business partners.

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