77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
L'OREAL GROUP
Beauty Advisor
Permanent · THESSALONIKI
L'OREAL GROUP
Nyx pm Beauty Advisor (Attiki)
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
By
AFP
Published
Jan 22, 2015
Reading time
2 minutes
Download
Download the article
Print
Text size

Swatch Group to increase prices by 5-10% in Europe

By
AFP
Published
Jan 22, 2015

Swiss watchmaker Swatch Group is going to increase the prices of its luxury watch by 5-10% in Europe, its CEO said on Wednesday, given the soaring Swiss franc against the euro triggered by a recent change in monetary policy by the Swiss National Bank (SNB).

Swatch is raising its prices - Swatch


"We will adjust prices in Europe for some brands between 5 to 7 percent, to 10 percent," said CEO Nick Hayek in an interview with Bloomberg. The price increases primarily concern the prestige watches Breguet, Blancpain and Omega as well as the high-end brand Longines, according to the head of the world's leading watchmaker. Hayek said he will be "more reluctant" to raise prices for Swatch and Tissot, which sell models at lower prices.

On Thursday, the SNB took the market by surprise by announcing that it was abandoning its rate floor, which was imposed three years ago to stop the Swiss franc from appreciating too much against the euro, causing a change in direction for the franc. The announcement has also led to a sharp correction on the Swiss Exchange, with investors particularly penalizing Swatch Group and Richemont, the worldwide number two in luxury. 

The industry is very sensitive to currency fluctuations, in that production costs for watchmakers are incurred in Switzerland, which manufactures the watches, while a large portion of the revenues are generated abroad, in foreign currencies. 

Hayek noted that the monetary effects, however, would be partially offset by the fact that operational retail costs and marketing expenses will be lower in Swiss francs. 

Other major watch brands are also planning to compensate, at least in part, for the rise of the Swiss franc through price increases. Meanwhile, brands are gathering this week in Geneva for the Salon International de la haute horlogerie (SIHH). The event showcases Richemont-owned brands, which are planning for price increases of 5-7%.

Copyright © 2024 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.