'I don't care': Swatch CEO on falling share price
Swatch's chief executive said on Tuesday he did not care about the company's falling share price, stressing he is "quite bullish" on growth for the company, with growth near 9 percent in China.
Shares in Swatch have fallen some 12 percent from May's all-time high of 602 Swiss francs after Hayek flagged the first half would be weak.
"I don't care, the stock market is one day this the other day this...For me, the stock market is just speculation." Nick Hayek said he was not going to "commit suicide" over the company's share price decline, especially not after a 6.1 percent rise in first half profit for the world's largest watchmaker.
Swatch Group reported net profit of 768 million Swiss francs ($821.2 million) for the first half of 2013, ahead of a 728 million estimate in a Reuters poll.
"I'm bullish on the outlook because I know the markets, we know the consumer and his behavior, I get the signals we have a lot of stores and I don't get bad signals, the second half of the year is always better than the first," Hayek said on Tuesday.
(Read more: As Asia slows, luxury watchmakers count on elite)
He also dismissed European politicians and analysts and said entrepreneurs should do the opposite of what they say.
Hayek said that sustained growth was experienced in all regions and that the outlook for the group, which makes the Omega, Longines and Swatch models, was even better for the second half of the year.
"I see growth everywhere in the world for the second half," he said.
Sales in the U.S. and Japan were doing well, Hayek added, but the yen/Swiss franc exchange rate worked against the watch maker, which produces all its watches in Switzerland.