News 
The Swatch Group’s Annual General Meeting was held on May 23rd at the Tissot Vélodrome in Grenchen. In accordance with the annual custom, the event was masterfully hosted by Nayla Hayek, Chair of the Board of Directors.
After welcoming the approximately 3,200 shareholders present, Nayla Hayek focused on one of the highlights of 2018, namely the completion of the Swatch brand’s new headquarters. Designed by the Japanese architect Shigeru Ban, the watch brand’s new “roof” was declared by the Chair to be “in every respect worthy of the dizzying heights reached by the brand” and “through its shapes and the exceptional technology used to build it, a monument to the glory of creativity.” She added that this building made of spruce is not only beautiful, but also respectful of nature. What’s more, Swatch is offering its customers a unique experience on the side of its new building: a Drive Thru store where you can buy a watch – rather than hamburgers - while staying in your car. The packaging of the models does however feature a fast food-inspired design featuring a cardboard box and paper bags.
The Chair of the Board of Directors reviewed other highlights of the group, such as the launch of the Nivachron, developed by Nivarox-FAR. The Swatch Flymagic, presented this spring, is equipped with this highly innovative hairspring. Another example of a product with new functionalities is the SwatchPAY! which facilitates everyday purchases by enables direct payment thanks to an integrated chip. Swatch has also launched a program to personalize its timepieces – Swatch X You – where anyone can determine the final design of their watch based on proposed visuals. In addition to collaborations with artists, this personalisation concept offers creations inspired by the beauty of nature, street art and geometric shapes.
After offering a reminder of the excellent 2018 results – net sales of 8,475 million francs (constant exchange rates), up 5.7% compared to 2017; an operating result of 1,154 million, up 15.2%; and a net income of 867 million with a net margin of 10.2% – Nayla Hayek stressed that, while investment in communication, marketing, public relations, research and development is essential, it is also essential to invest in the most important capital for a company, namely employees. The efforts of each individual enable the group to develop, produce and sell its timepieces and components. The Swatch Group also invests heavily in the training of young people, most of whom find their first job within the group’s various companies.
While there were some minor glitches in the electronic voting at the meeting, all items on the agenda were unanimously accepted.
May 29, 2019