The Swatch Group Half Year Report 2023: Net Sales Increase Almost 20% To CHF 4,019 million
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The Swatch Group Half Year Report 2023: Net Sales Increase Almost 20% To CHF 4,019 million

The Swatch Group Half Year Report 2023: Net Sales Increase Almost 20% To CHF 4,019 Million


In Brief


  • The new half-year report from The Swatch Group for the first six months of 2023 looks impressive with net sales augmenting by 18% at local currency exchange rates.
  • The Swatch Group reports an operating profit of CHF 686 million, more than 36% up on last year with a net profit of nearly CHF 500 million, a rise of 55.6% from 2022.
  • Lifting of Covid restrictions in Asia and worldwide interest in Swiss watches were key determining factors in beating analyst forecasts.
  • Hong Kong sales went up three fold while a strong European rally showed a sharp 50% rise in Switzerland among other territories.
  • Swatch Group reveals in the half-year report strong sales across North America especially around the lower to medium price points, demonstrating double-digit growth figures. 
  • With a resurgence of travel in and around China, there has been additional interest and activity around tourism hubs like Thailand and Macao, boosting sales.


What Does The Swatch Group Own?


Established in 1983 in response to the Quartz Crisis and its impact on traditional watchmaking, The Swatch Group has an umbrella of companies within their horological stable.

Source: 3shopai

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Luxury Swiss brands such as Omega, Longines, Breguet and Tissot all belong to the Swatch Group as well as Mido, Rado, Balmain, Calvin Klein watches and the jeweller Harry Winston. Oh and of course Swatch, home to the sought after Jelly Fish Chronometer from 1990, this piece is considered one of the rarest Swatch watches ever with only 2,000 pieces produced. 

Yes, time peeps, Swatch can also do rarity and exclusivity.


Swatch Group Half-Year Figures Promising Ahead Of Annual Report


We won’t find out the full fiscal forecast until The Swatch Group produces their annual report. Nonetheless, if Swatch were sent out of the classroom for a full analysis, we would undoubtedly give them an A+ as far as the half-year report is concerned. Could they do better? Room for improvement? Highly unlikely when we examine the 2023 figures. 

Sales have jumped 18%...almost as high as the 1998 Omega De Ville Prestige Jump Hour ref. 4853.61.01 or the iconic A. Lange & Söhne Zeitwork, complete with jumping numbers. Up to June 30th 2023, sales have rocketed to CHF 4,019 million while operating profit has been extremely robust, tipping the economic scales at CHF 686 million. 

This is more than a 36% growth since 2022. Meanwhile, operating margin enjoyed a welcome improvement going up to 19.7% in contrast to 15.7% just twelve months earlier.

Time is certainly money as they say.


Watches And Jewellery Sector 



Looking at this specific market, there was a remarkable upward trend thanks to the final Covid curbs being lifted in Asia, resulting in a sales boost across local currency rates. After all, with self-isolation in place for nearly three years has demonstrated an increased appetite among enthusiasts. 

Source: CGTN


The double-digit climb in sales across Mainland China (responsible for 33% of overall revenue in 2022) together with the reemergence of travel within destinations like Macau and Thailand has seen a rapid interest in watches and jewellery. 

In addition, the group added that recovery has spread to Hong Kong which has experienced a renaissance of business growth, tripling sales in due course. And this revival and sales forecast looks set to continue for the rest of 2023. 




Switzerland is leading the way in the European recovery with a climb of nearly 50% in sales. Furthermore, vital European sectors across Europe from Italy to Spain and France have made a significant impact to the Group’s sales.


Moonswatch Madness


As we have reported time and time again in 2023, the popularity of the Moonswatch collab between the Swatch Group and Omega is still riding the crest of a timekeeping wave..and then some. 

The original bioceramic beauty from 2022 - Source: Swatch

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The 2022 Moonswatch release was not only off the chart but they deserve one all to themselves. Considered the hottest drop of last year, the Moonswatch is still going firmly strong with the new Moonswatch Strawberry Moon Edition, unveiled in July 2023. Heck, they could even put pineapples, kumquats or bananas on the special 18k gold alloy chronograph seconds hand. 

Strawberry Moon Edition, Source - Swatch

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Devoted time lords would still flock in their thousands to sit on stools for hours outside their stores and reminisce about the previous unveiling. What next…the pineapple moon? What would you call the next iteration? Talk about wrist power. 

These watches are still fetching up to eight times the £250 retail price online on secondary marketplaces! It’s that old adage again of supply and demand. With some of the best PR spin not seen since the days of Alastair Campbell, the Moonswatch has “it” in spades. 




Well, it’s been a bumper bonanza half-year report for The Swatch Group. And that’s not even discussing the rise in the amount of employees which further rose to the end of June by 2.6%. But how many people work for Swatch Group? 32,899 to be precise. 

Oh you know we are all about detail and first rate accuracy at Chrono Hunter! Hence why you can buy a watch or sell a watch with ease through us while enjoying multiple offers via our network of trusted luxury retailers.

There are a number of different factors involved regarding Swatch sales, most notably the opening up of Asian markets, not to mention a newly found demand for lower-end watches. Now, If we were to unglue ourselves from the fence for a minute, what lies ahead for the second half of 2023?

According to the Group, they have stated excellent potential for performance and growth across several regions and price sectors. They have intimated that there are many more product releases with emphasis on the mid- to lower-range areas. We wonder what that could mean?

However, not all is rosy in the Ivory Tower. There are some analysts who believe sales may be a tad cautious in light of the continual consumer lack of confidence stemming from spiralling spiralling interest rates and the cost of living crisis. ates and the cost of living crisis. 

This comes off the back of another recent Omega price increase last month which has been reflected in different countries. Hiking prices up from 2%-8% depending on where you reside, the Swiss brand has been keeping a close eye on the luxury market. 

This is especially when they can clearly see some entry-level Rolex watches shoot through the roof on the secondary market, obtaining double the value of an Omega timepiece. 

For example, 10 years ago, a steel Rolex Daytona, arguably still one of the most popular Rolex watches around, would have set you back around £5,500. Now, if you sell a Rolex Daytona in steel through Chrono Hunter, you can expect around £26,000 at the time of writing. A worthy investment if ever there was one.

Call it giving into horological peer pressure from the big boys but some are claiming it may hamper the sales of Omega watches. Besides, Morgan Stanley advises that surprise surprise, the scarcity aspect doesn’t play an integral role as their models are not as sought after as Rolex with many Omega timepieces trading under retail on secondary marketplaces…Speedmasters and Seamasters aside. 

Further details can be found via

Perhaps, it’s time for another Moonswatch? Hang on a second…talk about the right time, right place, as August 1st 2023 is another monumental day for the Moonswatch. Omega and Swatch are back to delight us yet again with the latest saga of the Mission To Moonshine Gold celebrating National Swiss Day. Want to know more?

Now we have got your horological senses tingling! We’re off to join the queue but don’t go switching…


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Further Reading: 

The 9 Best Dive Watches For Men - Omega, Rolex, Tudor


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