Swatch Group arrives on the smartwatch market

In these troubled times, when nothing is "Like before", Swatch Group moved its annual news conference online Most of the emphasis was on two major announcements: the unveiling of the group's first "Real" smartwatch, by Tissot, and new customisable Swatch watches a reassurance that the group is in lockstep with market demands The main objective: to show that the group is financially solid despite a fall in both net sales and operating result to CHF 824 billion and 12 billion respectively.

With CHF 1.35 billion in net cash and equity of CHF 11.5 billion representing 84% of total assets, Swatch Group is in a strong position; even with inventories - duly detailed by Thierry Kenel - of CHF 6.8 billion which the group needs in order to maintain its supply cycle Obviously Swatch Group won't escape the consequences of COVID-19 Nick Hayek, who declined to put a figure on the consequences of the current standstill, given the unforeseeable nature of the situation, preferred to look on the bright side: "This is a temporary situation that isn't yet two months old," he said, adding that January had been a very good month for the group.

One way the world's largest watch group is hoping to bring about this recovery is the new T-Touch Connect Solar, its long-awaited smartwatch. . Source