Despite the Eurozone crisis and worldwide economic instability, Swatch Group increased its gross sales by 21.7 percent to reach a record 7.14 billion Swiss francs ($7.26 billion) in 2011.
Furthermore, the company finished the year off on a high-note by recording its strongest ever monthly turnover in December.
Announcing its record sales in a statement, the Group said the ongoing overvaluation of the Swiss Franc, particularly against the US Dollar and the Euro, had a negative sales impact of -10.8 percent but sales in CHF had still increased by 10.9 percent over 2010.
“The strong Group brands experienced significant growth, not only in Greater China but also in all other regions and all price segments,” the statement said.
“The watches & jewellery segment recorded an increase in sales of 26.1 percent at constant rates to CHF 6312 million. Investment in retail activities as well as numerous marketing offensives throughout the world contributed to these gratifying sales figures.
“The production segment was confronted with an enormous increase in demand for all types of components. This strong growth contributed to a marked increase in gross sales of 32.6 percent to CHF 2015 million for the segment.”
The Group concluded that although 2012 will be “a major challenge” it is confident of again generating “qualitative growth” despite the “ever more challenging comparison basis”.