Business News: Swatch Group Publishes Open Letter To Morgan Stanley Management Saying Longines Is Profitable And Tissot Sales Grew
Business News: Swatch Group Publishes Open Letter To Morgan Stanley Management Saying Longines Is Profitable And Tissot Sales Grew In a recently published open letter, the Swatch Group AG criticized the most recent Morgan Stanley "Swiss Watcher" industry report in a letter to the investment bank's management, calling some of the data presented in the analyst report "erroneous and questionable." The Swatch Group letter, addressed to Morgan Stanley Investment Management and linked below, says the report rankings and estimates of sales and production figures for the top 50 brands in the Swiss watch industry make "questionable assumptions," resulting in "inaccurate findings and questionable conclusions." Swatch Headquarters in Biel / Bienne. Published earlier this month, the ninth edition of the Swiss Watcher report showed that most Swatch Group brands lost market share amid declining sales. It also reported the group's flagship Om...