BUERGENSTOCK, Switzerland, Feb 25 (Reuters) - Swatch Group saw strong sales in its Omega and Tissot brand watches during the Chinese New Year but demand was more sluggish for its higher-end timepieces, Chief Executive Nick Hayek said on Thursday. “The four day-period of the Chinese New Year went very well for Longines, Tissot, Omega this year versus the same period last year,” Hayek told reporters after a press conference at the Swiss Buergenstock Resort. “The high-end segment was a bit more difficult.” He confirmed the group’s full-year outlook of over 5 percent sales growth in local currency, saying consumption in 80-85 percent of the group’s markets was positive. “January is looking good in mainland China, that is confirmed,” Hayek said. (Reporting by Silke Koltrowitz; Writing by Joshua Franklin)
Nick Hayek, the chief executive of Swiss-based Swatch Group, the world’s biggest watchmaker, has confirmed strong sales for its top brands Omega, Longines and Tissot over the recent Chinese New Year holiday period, however he also admits that demand was sluggish for its higher-end luxury watches.