Swatch profit in the second half of 2016 fell, and Harry Winston has demonstrated its growth, according to Rapaport portal.
Net profit fell 52% to $ 266.5 million (263 million CHF) due to the continuing weakness of the global economy and "inflated" the Swiss franc value. Sales fell 11% to $ 3.77 billion (3.72 billion Swiss francs), as noted in the wholesale division of the company.
"Unfortunately, the world is not reduced volatility in the first half of 2016. It was in no small part due to the unexpected decision Brexit 24 June.", - the company said.
Positive sales in Southeast Asia and the Middle East were not able to outweigh weakness in Hong Kong and Europe. As reported in the Swatch, distributors in Hong Kong have had difficulties and did not order the products again, and tourists from Russia and China actually ceased to visit Europe and Switzerland. Terrorist attacks in France and Belgium also affected tourism and retail sales.
Swatch said that Harry Winston jewelry brand in June showed the highest half-year sales. "Among the brands, Harry Winston increased net jewelry sales due to its wide retail network, which currently consists of 36 salons, and also because of the wide range of beautiful jewelry with diamonds and precious hours," - noted in the company.
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