Nick Hayek doesn’t go into the secondhand business

Unlike its rival, Rolex, Swatch Group will not enter the pre-owned watch business. CEO Nick Hayek (68) said in an interview with Bloomberg TV on Tuesday that the group will not approve watches for resale under the Swatch brand or in the cheaper price segment with the more expensive Omega watches.

In the interview, Hayek also looked to the year ahead with confidence: “People around the world want exclusive, quality products that bring joy.” This has become especially noticeable after the corona pandemic. With its production and development departments in Switzerland, the Swatch Group has a very good industrial base to take advantage of emerging opportunities.

Markets in the US and China show potential

According to Hayek, the growth potential of watch manufacturers in the USA is still very high. US consumers continued to buy products that “radiated emotion and joy.” However, the demand for quality products such as Swiss watches is still very high in China.

According to the CEO, the launch of “Moonswatch” about nine months ago was a complete success for the Swatch brand. “We thought ‘Moonswatch’ would be a success. That’s why we kept the launch top secret,” Hayek said.

Time from first moon landing

“It was a surprise to us that the watch was so successful.” People still line up outside Swatch stores for the coveted and rarely found “Moonswatch.”

The eleven “Moonswatch” models are based on the cult Omega brand’s “Moonwatch” design and cost just 250 francs each. Hayek doesn’t think this undermines the value of the Omega icon. “It’s the other way around. That’s how we tell young people the story of Omega.» Moonwatch was worn by US astronauts on the first trip to the moon in 1969. (SDA)