US EditionThe Swiss Watchmaker Swatch, Tissot and Omega Is in Serious Trouble: Its Profits Have Fallen to the Black Zero Level.
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Nick Hayek, 70, CEO of Swatch Group, is going through a difficult time with his watchmaking company. At the beginning of the year, Swatch Group predicted that business results would only continue to grow through 2025. However, this did not happen: operating profit fell by two-thirds to just 68 million Swiss francs in the first half of the year. For a multi-billion-euro company, this figure is practically close to breakeven (the so-called black z…
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