OMEGA news and archive

Swatch Group posts sales growth

Swatch Group sales for the full year were 5.2 percent above the previous year to 7.9 billion Swiss francs. The company said in a statement that net profit rose by 8.1 percent to 890 million francs since there was a negative currency impact of 554 million Swiss francs or 7.4 percent, which weighed on profitability. The rapid erosion of major...

Business

Omega watches to see price increases

Omega, the renowned Swiss watchmaker, is preparing for another round of price hikes following a previous increase earlier this year. Swatch Group AG, the owner of Omega, has been closely monitoring the luxury market, where entry-level Rolex prices have skyrocketed, often reaching twice the cost of an Omega timepiece. Omega contributes around 60...

Fashion

Omega celebrates a century of women's watchmaking

It is odd to think a century ago women were less inclined to buy timepieces, rather it was more common for them to be gifted by their husbands. A new pop-up by Omega, the Swiss luxury watch and jewellery house, celebrates 100 years of its watchmaking for women, from the decorative to the functional. From art nouveau and art deco jewellery...

Retail

Omega opens franchise boutique in Liverpool One, UK

Omega has opened its largest franchise boutique in Liverpool One in the UK. Located in Liverpool One’s upper South John Street, the store was created in partnership with jewellery retailer David M Robinson. The 2,000 square foot store showcases Omega’s collections for men and women. The store includes a bar, an changeable lighting system to...

Business

Swiss watchmakers see exports plunge amid pandemic

Swiss watch exports plunged by more than a fifth in March, the Swiss watch industry federation, FH, said Tuesday, warning it expected the situation to deteriorate further in April. Overall, Swiss watch exports fell 21.9 percent in March compared to a year earlier, to 1.4 billion Swiss francs (1.4 billion dollars, 1.3 billion euros) -- with a...

Business

Asia rebound sends Swatch profits ticking higher

Swatch has handily outrun the global watch crisis, it said Tuesday, with revived sales in Asia pushing 2017 profits more than 27 percent higher from the previous year. The world's largest watchmaker saw its net profit swell to 755 million Swiss francs ($812 million, 651 million euros), more than a quarter higher than in 2016. Swatch, which is...

BusinessFeatured

Omega hops on e-commerce bandwagon

While most Swiss watchmakers have been reluctant to go into e-commerce, Omega may have just started the domino effect. The company has officially started selling their watches online, thereby disrupting the way expensive watches are bought. Watch aficionados have been buying and selling online for quite some time, but it was through the grey...