Timepiece Tuesday: Swatch Group Names New Presidents for Rado and Hamilton Watch Brands

Matthias Breschan

 By William George Shuster

Matthias Breschan, formerly president of Hamilton watches worldwide, has been named the new president of Rado watches worldwide by the Swatch Group. Breschan originally joined the Swatch Group, which owns both Rado and Hamilton, in 1996 and had been president of Hamilton since 2003.

He succeeds Roland Streule, the long-time president of Rado SA. Steuele joined Rado in 1978 as a regional manager. He became president of Rado in 1989, overseeing its growth and worldwide success.

A spokesperson for the Swiss-based Swatch Group, the world’s largest watchmaker, noted that Streule had previously stated he would retire from running the operations of Rado when he turned 65. Streule continues to be a member of the Swatch Group executive management board, overseeing a number of special projects for it.

Sylvain Dolla

Meanwhile, Sylvain Dolla, former head of sales of Hamilton SA for five years, is the new President of Hamilton, succeeding Breschan. Dolla joined Swatch Group in 2003.

The appointments were effective Jan. 1.

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for JCK magazine and its sister publications for nearly 29 years.

Swatch Group 2010 Sales Sets New Record

The Swatch Group reported Wednesday that sales for 2010 totaled 6.4 billion Swiss Francs ($6.6 billion), an increase at constant exchange rates of 21.8 percent over 2009 and 12.7 percent over 2008, despite capacity bottlenecks and adverse exchange rates. At constant exchange rates, the increase was 28.1 percent.

“The extraordinary strength of our brand portfolio was again reflected in an excellent performance by the Watch segment in practically all markets and price segments,” the company said in a statement. “Outlook remains optimistic in the entire year 2011 for further strong organic sales growth.”

The company’s Watches & Jewelry segment reported a 21 percent year-over-year gain at constant exchange rates, with indications that double-digit growth will continue into at least January. The company has a far reaching group of watch brands, from mass market to luxury: Breguet, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Tiffany & Co., Longines, Rado, Union Glashütte, Tissot, ck watch & jewelry, Balmain, Certina, Mido, Hamilton, Swatch, Flik Flak, Endura and Tourbillon.

The production segment of the company, which supplies movements and components to third-party watchmakers in Switzerland and around the world, reported an increase of 7.5 percent for the year.

The electronics segment, which supply electronic systems used in watchmaking and other industries and in the field of sports event timing, reported an 11.7 percent gain, year-over-year.

The company also it expects an improved operating margin compared to the previous year as well as higher net profit for the year, despite an unfavorable currency conditions.

The decline of the dollar and the Euro caused a three percent drop in revenue, the company said. But despite this issue, Swatch Group said it expects strong growth in 2011.

“The Swatch Group will further generate dynamic and organic sales growth in 2011 and continue investment in its distribution and the expansion of its production capacities. the company said. “Sales in January 2011 are already exhibiting a positive trend with double-digit growth in local currencies. The optimistic expectations are supported by the Group’s strategic positioning in all market segments and its geographic presence throughout the world.”