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logoMorningstarJune 18, 2020

The Swatch Group AG: Are Smartwatches Coming for Luxury Timepieces Next?

Consumer Cyclical
Current Price
Fair Value
Economic Moat

Swatch Group’s biggest brands are Omega (number-two Swiss watch brand by sales after Rolex), Longines (the largest premium watch brand and number four by sales globally), Breguet, Tissot (the leader in midrange Swiss watches with around 4 million annual unit sales), and Swatch. Swatch group employs 36,000 people, half of them in Switzerland. We estimate that Swatch Group makes about 30% of its sales from Omega, 10% from ultraluxury brands, 19% from Longines, 13% from Tissot, and 4% from Swatch. We estimate Omega and Longines to be the group’s most profitable brands.

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Analyst Profile

Jelena Sokolova

Equity Analyst
Jelena Sokolova is an equity analyst for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. Based in Amsterdam, she covers the consumer discretionary/luxury goods sector.Before joining Morningstar in 2016, Sokolova worked as a senior equity analyst at CE Asset Management in Zurich covering European large caps.Sokolova has a master’s degree in international business from Riga International School of Economics and Business Administration (RISEBA). She holds the Chartered Financial Analyst® designation.