Swatch Group is showing positive signs of growth. It is reported that the company has hired more than 800 employees in the past six months – reaching a total of 36,200 employees, and it has reported an increase in inventory mainly led by the purchase of gold and diamonds to a record $6.7 billion. The company which has seen an overall growth across all segments, including the lower-end segment which was facing the heat due to the Apple Watch.
CEO Nick Hayek believes the growth figures can touch a double-digit figure during this year. This optimistic outlook is certainly reinforced by the fact that they are stocking up on gold and diamonds. However, this could also be due to a perceived uncertainty prevailing in the global market. The last thing Swatch would want is to run out of diamonds just when their sales had picked up. The overall growth in Swatch’s operating profits and sales suggest a strong 2018 financial year.