The Swatch Group's resurgence in the first half of 2026 is a remarkable turnaround after a challenging period. Sales have surged by 8.5%, a significant improvement from the 12% decline in 2024 and the 7% decline in 2025. This growth is particularly notable given the geopolitical challenges in the Middle East, which have historically impacted the industry. The Swiss watchmaking giant, known for its prestigious brands like Omega, Breguet, Longines, and Tissot, has outperformed its competitors, including Richemont, Rolex, and LVMH, who reported varying degrees of decline or slower growth. This success is a testament to the Group's strategic initiatives and the resilience of its brands.
One of the key drivers of this growth is the strong performance of the Watches & Jewellery segment, which saw a 9.5% increase in sales at constant exchange rates. The United States, Spain, Italy, Japan, South Korea, and Australia all witnessed double-digit growth, with the US leading the pack with a 27% increase. Even China, a market often associated with slower growth, saw a 9% increase in sales. This diverse global success highlights the Group's ability to adapt to different markets and consumer preferences.
Brand-wise, Breguet's innovative approach during its 250th anniversary celebrations has been a significant contributor to its success. Omega's retail business recorded a robust 20% growth, while Longines, Tissot, and Hamilton experienced impressive double-digit turnover increases. The Audemars Piguet X Swatch collaboration has also been a global phenomenon, generating over 25 billion views on social media and further enhancing the Group's reputation and brand awareness.
The Swatch Group's positive outlook for the second half of 2026 and beyond is promising. The strong sales acceleration in May and June, confirmed in July, suggests a continued upward trajectory. However, the Group must remain vigilant, as the strong Swiss franc has impacted sales by almost CHF 200 million, resulting in a 2% growth at current exchange rates. Despite this, the overall performance indicates a strong foundation for future growth, and the Group's strategic focus on innovation, market adaptation, and brand collaboration positions it well to continue its upward trajectory in the competitive watch industry.
