On’s investor and tennis superstar Federer stated, “Iga and Ben represent the next generation of world-class talent. Both players demonstrate On’s competitive spirit and embody current and future champions of the sport.”
Swiss watches saw a significant surge in exports to major markets in February, with a whopping 6.1% YoY increase in exports to Europe as a whole.
Three temporary factories will be located in Fribourg, Romont, and the Vivier SA industrial park in Villaz-Saint-Pierre, Switzerland.
Daniel Roth is currently in full swing with product design and development, with plans to launch its first batch of new products in the second half of this year.
Adjusted EBITDA increased 7.3% at constant currency to CHF 440 million.
Besides, the company was given the Double A rating for climate and water for the fourth consecutive year by CDP (Carbon Disclosure Project).
The company was upbeat about a recovery in China, a key market for the luxury sector overall and Swatch Group in particular where it generates around a third of its sales, according to estimates by Zuercher Kantonalbank.
The export value of the Swiss watch industry in December 2022 reached 2.024 billion Swiss francs (CHF), an increase of 5.8% compared to the same period last year.
In the third quarter, sales in mainland China declined 24 percent from a year earlier.
Zurich-based holding company DKSH has announced the sale of its 25% stake in Bovet Fleurier SA, a Swiss watchmaking brand, to Mr. Pascal Raffy and his family.