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5 years ago
Swatch Group CEO will "fight" to meet 2012 profit goal
September 27, 2012 / 1:56 PM / 5 years ago

Swatch Group CEO will "fight" to meet 2012 profit goal

ST.-IMIER, Switzerland (Reuters) - Swatch Group UHR.VX will have to work hard to achieve its goal of increasing sales this year to 8 billion Swiss francs ($8.50 billion) from last year's 7 billion, its chief executive told Reuters on Thursday.

Nick Hayek, chief executive of the world's largest watchmaker, cited slowing growth in China and the euro zone crisis as the reasons for why hard work was needed.

"We still try to reach the 8 billion Swiss franc target, but we have to fight," Hayek said on the sidelines of an event to mark the 180th anniversary of Swatch brand Longines.

(Writing by Catherine Bosley in Zurich; Editing by Greg Mahlich)

(catherine.bosley@thomsonreuters.com; +41 58 306 7461)

This story corrects 150th to 180th anniversary in paragraph three

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