Latest Retail

Swatch Group Hopeful China Market Starting to Recover

E-commerce from mainland has picked up, as have orders from retailers as they sell more inventory.

Revenue up 0.6% from previous month to $720.1 billion.

Group revenue grew 13% in fiscal first quarter as China and Hong Kong saw strong results.

Sales at jewelry maisons up 7% year on year in first quarter.

Online spending over the four days increased 30% year on year.

Company drops two places to 69th, with revenue falling 5% in 2024.

The event lasted four days versus two in 2024, likely contributing to 28% year-on-year rise.

Company purchases luxury retailer European Boutique and licensing to operate Diamonds Direct in the country.

Site’s indicated resources amount to 18.2 million carats.

Revenue from jewelry category up 18% year on year in first quarter.

Paris Peace Forum meeting also touches on responsible sourcing, workers’ rights, and respect for local communities.