Seiko and Grand Seiko financials put Swiss in the shade
Seiko Group Corporation has reported a 6.3% increase in sales to ¥160 billion ($1.03 billion) for the first half of its 2025 financial year, with the Seiko and Grand Seiko watch brands experiencing even faster growth. Watch sales alone rose by 8.8% to ¥98.2 billion, now representing 61% of the group's total sales. The company's watch business boasts a significantly higher operating margin of 15.1%, compared to just 3.2% at Richemont and 4.5% at Swatch Group during the same period, indicating strong profitability and rising margins. While Grand Seiko has shown remarkable performance in the United States, attributed to a robust stock market, its growth in Europe has been hindered by a downturn in the luxury goods sector. Despite this, Seiko Global Brands, which includes various collections like Seiko Prospex and Presage, has thrived in key markets. Additionally, the ultra-high-end brand Credor plans to participate in Watches and Wonders Geneva in 2026, aiming to enhance its global presence, following the successful international expansion of Grand Seiko since 2010.
