PARIS - A “noticeable drop” in demand for watches in the last two months of 2008 dragged down full-year sales at Switzerland's Swatch Group.
The maker of Omega, Swatch and Breguet watches said its net sales grew just 0.5 percent to 5.68 billion Swiss Francs, or $5.26 billion at average exchange.
By division, watches and jewelry sales inched up 1.8 percent to 4.79 billion Swiss Francs, or $4.44 billion. The group’s production division, which manufactures watch components for third parties, grew 7.5 percent to 1.81 billion Swiss Francs, or $1.68 billion.
The group, whose brand portfolio also includes Jacquet Droz, Blancpain and Glashutte Original, said its outlook for the next few months is “cautious but not pessimistic.”
Sales this month plus orders for February and March showed improvement, indicating “a rather manageable recession,” the company said, adding that it expects a rebound in the second half of 2009.
Swatch said it would continue to expand its own retail activities, which fared better than its wholesale doors.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion