After climbing five percent in 2012, Swatch Group has plans to grow even further in 2013 and are pushing their luxury goods to the point of a hopeful growth of at least 10 percent. This is an interesting investment to watch because the FTSE fell during this period, so Swatch must be doing something right.
Luxury goods were back in favour after Swatch Group reported higher margins and provided upbeat guidance for 2013 thanks to renewed demand from China and the US.
Shares in the Swiss watchmaker climbed 5 per cent to SFr543.50 as it said it was aiming for double-digit growth this year after reporting a 26 per cent surge in 2012 net income to SFr1.608bn, easily beating expectations.
Credit Suisse analyst Patrick Anglin said Swatch was one of the cheapest luxury stocks in the sector. Read More