Tokyo (SCCIJ) – Swatch Group Japan has opened a new flagship store in the fashionable Harajuku district of the Japanese capital. The Japan headquarters office will move from Ginza to the floor above the new store. The parent Swatch Group from Switzerland predicts that the further easing of COVID-19 restrictions in many markets will enhance the already very high consumer demand.
The new store in Tokyo is a colorful building with a strong, bouncing presence that catches the eye even from a distance. With a floor space of 249 square meters, the store is a visually striking blend of concrete, mortar, and metal textures.
Product displays, acrylic neon lights, and metal mesh walls can be moved freely within the store. They are mounted on ceiling rails reminiscent of clockwork, allowing for a flexible and varied layout. It is an innovative, playful, and Swatch-like presentation.
The store has a Swatch customization corner where you can order your individual watch. Customers can choose the design of the watch display as well as the color and type of the watch itself, and add a message of up to 15 characters on the back. The printing will be completed within about 20 minutes.
Acceleration of sales
The Swatch Group reported strong results for the first half of this year. Net sales increased by 55% compared with the first half of 2020 to CHF 3.4 billion. Operating profit jumped to CHF 402 million with an operating margin of almost 12%, a big turnaround versus the loss of CHF 327 million during the same period of last year. The Swatch brand very successfully launched the new bioplastic and bioceramic models to the market, and will continuously increase production capacity in the next months.
Based on the significantly accelerated increase in global sales in the second quarter, particularly in June, the Group anticipates further strong growth in local currencies in the second half of the year, with sales climbing above pre-pandemic 2019 levels. The easing of COVID-19 restrictions announced by Europe and Asian countries, as well as the resumption of tourism in many regions, will provide a further boost in sales.
Omega at Tokyo 2020
The Olympic Summer Games in Tokyo are also causing optimism at the Swatch Group. For the 29th time in history, the group brand Omega will fulfill its role as the Official Timekeeper of the Olympic Games, bringing almost 90 years of experience to Tokyo 2020 – the brand has been at the Olympic Games for nearly every edition since 1932.
339 events in 33 sports disciplines will be held in Japan, and Omega will be measuring every second of the action. This includes brand new sports disciplines for the Olympic Games, including karate, sport climbing, surfing baseball/softball, and skateboarding, giving the Swiss watchmaker more competitions to record than ever before.
Text: Martin Fritz for SCCIJ with material of Swatch Group