Swatch Group Press Conference

The Swatch Group commented on its 2019 results in front of an unusual audience during a live videoconference from the Cité du Temps. It was an opportunity for Tissot to unveil its T-Touch Solar Connect, and for the Swatch brand to present the innovations of its Swatch X You program.
Janine Vuilleumier

On March 19th, the Swatch Group held its press conference on the 2019 financial statements and balance sheet in an unusual way. Due to the health crisis caused by the coronavirus, a small number of Group representatives gave a live video conference from the Cité du Temps in Biel/Bienne. To ensure that the trio of representatives did not feel alone in the heart of the Nicolas G. Hayek conference room, some 90 teddy bears had taken their place in the seats normally reserved for guest journalists. Intended for the Orbis association, with which Omega is in partnership, these teddy bears will be distributed to children under the care of the doctors at the Flying Eye Hospital plane which helps children suffering from eye diseases.

It was thus in this somewhat special setting that the annual figures were reviewed in detail by Thierry Kenel (CFO). Group net sales for 2019 amounted to CHF8,243 billion (at constant exchange rates), 1.8% less than in 2018. Operating profit was CHF1,023 billion, down 11.4%. Net income stood at 748 million, -13.7%. The group’s situation nonetheless remains healthy, with shareholders’ equity amounting to CHF11.5 billion.

The press conference was largely dominated by the health and economic crisis caused by Covid-19. Nick Hayek, CEO of the Swatch Group, assured that everything was being done in the different entities to protect personnel. Distance working and workshop reorganisation guarantee the health of the companies’ 20,000 employees in Switzerland. The situation is analysed daily in order to adapt it to the directives issued by the Federal Council. Nick Hayek assured that no redundancies were planned. Even if some companies will resort to short-time working, all jobs will be guaranteed in order to restart under optimal conditions as soon as the crisis has passed.

During the second part of the conference, Tissot unveiled the brand-new T-Touch Connect Solar, a hybrid watch entirely developed by the brand from Le Locle. Brimming with functions, rechargeable by solar radiation and featuring a sophisticated design, this timepiece has been the subject of no less than 35 patents. The T-Touch Connect Solar is above all a watch and not merely a connected gadget. Its 47mm titanium case, water-resistant to 100 metres, is fitted with a virtually scratch-resistant ceramic bezel. Its upper section features the basic functions of a T-Touch Solar Expert model; while the lower part is equipped with a small screen displaying the connected functions managed by the SwAlps (Swiss Autonomous Low Power System) guaranteed Swiss made operating system. It has a very long autonomy of six months, or ten years if not connected. This function can be deactivated by a simple click. This product is therefore destined to last and has no programmed obsolescence, unlike smartwatches. This timepiece should normally be launched this summer in Switzerland and before the end of the year in China. Its operating system is indeed compatible with Android (Google), iOS (Apple), as well as with the brand-new Harmony OS launched by the Chinese telecommunications giant, Huawei.

Swatch Brand Manager Alain Villars presented the innovations of the Swatch X You program, which enables people to create their own watch based on some 150 designs. A partnership with the Louvre even allows customers to create their own watches with famous paintings as backgrounds. Swatch also entered into a partnership with the ECAL University of Art and Design Lausanne and gave carte blanche to up-and-coming artists. Five new designs have been added to the range of themes on offer. Personalisation can be taken as far as writing a name on the back of the models.

April 02, 2020