Swatch Group sees 14% jump in sales in 2012 with watches and jewelry leading the way

The Swatch Group recorded a 14-percent increase in sales in 2012, following a record year in 2011.

The Swiss watch firm's sales were $8.91 billion despite a slowdown in sales to Asia where it recorded, in September, its first monthly fall in three years. Sales in Asia were also lower in October and November.

More than half of the revenues from Switzerland’s largest watchmaker were from Asia in 2011.

Analysts estimated that with overall sales growth higher than forecast, boosted by Swatch's watches division, either Christmas sales were strong or retailers stocked up in the belief that there would be strong holiday season sales.

Sales jumped 15.6 percent to almost$8 billion at its watches and jewelry division, while its production division posted 10.1 percent growth. Meanwhile, revenues at its electronic systems unit fell 7.4 per cent.

Swatch said that its brands had seen a “good start” to 2013, and that “healthy growth" is again expected this year.

However, analyst consensus this year is for lower sales for luxury goods companies compared to 2012.

Swatch is scheduled to release detailed full-year results in February.