Share |

swatch

Family Business Roundup: Swatch, Dassault, and Maersk

July 22, 2016

Swatch first-half profit declines to lowest level in nearly a decade; Dassault Aviation profit down, deliveries cancelled; and Maersk signs five-year carbon reduction scheme

Swatch first-half profit declines to lowest level in nearly a decade

Swiss watchmaker Swatch, owned by the Hayek family, reported its lowest first-half profit in seven years amid a challenging time for luxury goods.

According to a company statement, first-half operating profit declined 54% to CHF353 million ($359 million) but said it expects “clear growth” in the second half of the year. Swatch said July 15 that revenue fell about 12%.

Shortlist announced for the fifth European Families in Business Awards

May 27, 2016

The cream of continental business talent will be celebrated at the fifth annual European Families in Business Awards in Berlin on 21 June.

The cream of continental business talent will be celebrated at the fifth annual European Families in Business Awards in Berlin on 21 June.

Family business leaders and business school experts on the judging panel for CampdenFB have shortlisted the 30 best of the best from more than 250 nominations across six categories. Close to 1,000 companies have been nominated since 2012.

Family Business Roundup: PZ Cussons, Antofagasta and Swatch

July 31, 2014

PZ Cussons cleaning up despite £12m currency drop; Antofagasta share price drops despite higher output; Swatch shares increase following iWatch rumours

PZ Cussons cleaning up despite £12m currency drop; Antofagasta share price drops despite higher output; Swatch shares increase following iWatch rumours

PZ Cussons cleaning up despite £12m currency drop

British soap and shampoo manufacturer PZ Cussons posted a profit of £115 million (€144 million) for the year ending May 2014 – a rise of 7% on 2013.

Swatch's $449.5 million arbitration victory over Tiffany & Co

December 23, 2013

Swiss family-controlled watch business Swatch has come out on top after a bitter legal dispute with luxury jewellery company Tiffany & Co, winning $449.5 million (€328.6 million) in damages.

Swiss family-controlled watch business Swatch has come out on top after a bitter legal dispute with luxury jewellery company Tiffany & Co, winning $449.5 million (€328.6 million) in damages.

Swatch, controlled by the Hayek family, filed a claim with the Netherlands Arbitration Institute in 2011 over the termination of a contract between the two companies.

The following year Tiffany, a publicly traded company, filed a counter claim.

Family business roundup: Steady growth for Loblaw and Swatch

July 25, 2013

Big family businesses Loblaw and Swatch reported comfortable growth for the first half of 2013 – although Swatch had a tough act to follow after last year's stellar results.

Loblaw
The Weston family's Canadian grocery chain, Loblaw, announced revenues of CAD$7.5 billion (€5.5 billion) for the second quarter of 2013 – an increase of 2% compared to the same period last year – and a 14.1% increase in net earnings to CAD$178 million.

Swatch second-gen appointed Harry Winston chief executive

May 13, 2013

Swiss-based family business Swatch Group has announced second-generation Nayla Hayek as the new chief executive of its recently acquired jewellery and watch brand Harry Winston.

Hayek is already chair of the luxury brand and her nomination to chief executive takes effect immediately. She has also been chair of Swatch Group since July 2010 following the death of her father Nicolas Hayek.

Family business and pay

April 4, 2013

Thomas Minder runs a third-generation Swiss family business making herbal toothpaste – his commitment to the family business is admirable, but he is more likely to be remembered for starting a revolt against excessive executive pay.

Thomas Minder runs a third-generation Swiss family business that makes herbal toothpaste. Although Minder’s achievements in nurturing the family business are admirable, to the wider public he’s likely to be known for something a bit more important.

Minder has started a revolt against the excesses of executive pay in Switzerland that might be one of the biggest revolutions to happen in the area in the past few decades.

Family business roundup: Growth for Ikea, Swatch and Richemont, Metro and Douglas soldier on

January 23, 2013

The latest results show 2012 was a good year for many European family businesses; secretive Ikea published strong results, and luxury groups Richemont, Swatch and Remy Cointreau also reported encouraging figures. But German-based Metro Group and Douglas Holding had to fight for growth in the household goods market.

Ikea
Swedish giant Ikea Group published its 2012 financial results on 23 January – only the fourth time it has published results in its 70-year history.

Family business roundup: Swatch buys Harry Winston, Volkswagen eyes Man and PPR divests

January 14, 2013

European family businesses are putting their best foot forward for 2013, with Swatch making a major acquisition while Volkswagen and PPR are also eyeing deals.

Swatch Group celebrates record sales

January 19, 2011

The world’s largest watchmaker, the Swatch Group, announced on 19 January that its sales reached a record $6.7 billion for 2010, and is upbeat about the year ahead.

The world's largest watchmaker, the Swatch Group, announced on 19 January that its sales reached a record $6.7 billion for 2010, and is upbeat about the year ahead.

The Geneva-based group announced a year-on-year 19% rise in sales, with its watches achieving an "excellent performance" in all markets and price segments. Apart from Swatch watches, the group also makes luxury timepieces like Breguet, Blancpain, Rado and Omega.

The group said that it was optimistic about 2011, on the back of strong December sales, which were up 21% year-on-year.