Swatch Group AG, the world's largest watch maker, said it will not cut positions in the current economic situation and recruit more if necessary to support its expansion in China.
According to Susan Chen, president of Swatch Group (China), the country has grown into the largest market for Swatch and the firm believed that China will continue to move forward.
"We are continuing our investment and projects to further develop our brand in China," said Kevin Rollenhagen, a member of the Swatch Group, at the Swatch Art Peace Hotel Ground Breaking Ceremony. "Hiring is continuing, new products are being introduced, new stores are being opened. We have no reasons to reconsider our plans for 2009 and beyond."
Swatch Art Peace Hotel in Shanghai is due to open to the public by May 2010.
