Swatch Group reports 2010 sales are up on 2008

Chief exec Nick Hayek expects record sales and profits in 2010.

At Swatch Group’s annual news conference earlier this week, chief executive Nick Hayek said sales of watches and jewellery in January and February had outperformed 2008 comparatives and said that March looked “promising”.

Hayek, who is expected to be elected to the Swatch Group board at its annual general meeting in Basel today, added that Swatch Group expected record sales and profits this year.

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Also expected to join the board is Jean-Pierre Roth, former chairman of the governing board of the Swiss National Bank. In a pre-AGM meeting, board members elected Nayla Hayek as additional vice-president of the board.

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