Friday, 7th May 2004 (4385 views)

Swatch Group has revealed positive trading results and claims demand for watches and jewellery collections is increasing considerably.

The group took part in last month's Basel watch and jewellery fair and claims demand was high, with sales exceeding 2002 levels.

Chief executive Nick Hayek told the Financial Times: "Basel confirmed what January-March indicated. And April has also been very good."

Reportedly the group hopes to expand its jewellery line and open a group-wide jewellery centre, with jewellery sales reaching highs of $234 million a year within the next five years.

"There is the possibility of acquisitions. A jewellery brand would suit us, but there's nothing on the market," Mr Hayek added.

Demand has been particularly high in the US, Asia and the Middle East.

 

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