Swatch Group Looks to Move into Diamonds

Swatch Group, the world's largest watchmaker, is said to be looking at a strategic investment in diamonds due to rising demand for timepieces with the precious gemstone.

"As the fifth-biggest consumer of diamonds, a stake in a diamond mine would be interesting," CEO Nick Hayek told the Finanz und Wirtschaft, a newspaper based in Switzerland.

"The demand for watches with diamond decoration has increased explosively. We can't [get] enough diamonds." Hayek said.

Categories: Swatch, Swiss Watch News.

Comments (3)

  1. Wow imagine that..having a share in a diamond mine! That would be amazing! :D

  2. “Wow imagine that..having a share in a diamond mine! That would be amazing! :D ” It’s not really as simple as that. This investment works two ways for Swatch. As the article mentioned, it will give Swatch access to cheaper diamonds in order to keep up with the demand of diamond-decorated watches.

  3. I think this would be a good move on their part. Yet, I suggest they should still manufacture watch designs that they known for.

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