Swatch Group on the front foot with impressive H1 sales
A buoyant Swatch Group recorded strong sales growth in the first half of 2026, driven by all price segments and broad global expansion.
In the face of economic headwinds, a strong Swiss franc, and geopolitical challenges in the Middle East — one of the group’s better markets, historically — performance accelerated significantly in May and June, pointing towards improved profitability and sales for the second half of the year.
Net sales reached CHF 3,121 million, up +2.0%, which is +8.5% at constant exchange rates, with negative currency effects of almost CHF -200 million.
Operating profit of CHF 52 million was negatively affected by the company’s ongoing decision to retain its staff headcount on the production side of its operation, despite volumes going down. “The strongly marked acceleration observed in May and June [+13.1% sales growth at constant rates] continued into July., confirmed in July, enables better utilisation of production capacity and will lead to a significant improvement in profitability in the second half of the year,” the company said.
As far as individual brands go, Omega was up +20% in retail, while Longines, Tissot, and Hamilton each delivered double-digit sales growth.
Its direct-to-consumer operation has also been a major success in the first half of the year, with retail boutique sales up +18% (accounting for almost half of watches and jewellery sales), while e-commerce rose +30%.
