Despite worrying July export figures for Swiss watches, and competition from the growing smartwatch sector, Swatch CEO Nick Hayek anticipates robust sales. On Thursday, a 200 metre-squared Swatch store - the largest in Switzerland - was officially inaugurated in Interlaken on the same day the Federation of the Swiss Watch Industry reported a 9.3% overall drop in Swiss watch exports, and a 21% drop in exports to Asia. But Swatch CEO Nick Hayek is not fazed. In fact, he says the new store is selling up to 1,000 timepieces a day, and hopes it will bring in CHF 15-17 million ($16-18 million) annually. The new Interlaken location was actually first opened in May, but the building could not be closed for a ribbon-cutting ceremony until now due to the brisk business, much of which comes from tourists visiting the Jungfrau area. The complete picture Hayek told Le Temps on Saturday that the Federation’s report did not represent the complete picture, because it did not ...
