Swatch CEO Boosts Hiring, Inventory to Keep Up With Watch Demand

Swatch adds 800 employees, stocks up on gold and diamonds
CEO Hayek says double-digit sales growth possible in 2018

Speedmaster luxury wristwatch.
Photographer: Stefan Wermuth/Bloomberg

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By Corinne Gretler

July 18, 2018 at 4:48 AM UTC

Updated on

July 18, 2018 at 9:43 AM UTC

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Swatch Group AG, the largest Swiss watchmaker, is boosting headcount and inventory to record levels to keep up with accelerating demand across its portfolio of 18 brands.

Swatch hired more than 800 employees in the six months through June and has been stocking up on gold and diamonds, lifting inventory to a record 6.7 billion francs ($6.7 billion), the Biel, Switzerland-based owner of Harry Winston and Tissot said as it reported first-half profit that beat estimates.