Swiss brand Omega suffers major decline despite leading Paris Olympics—Rolex, Patek Philippe and Audemars Piguet gain [Fortune]
SWATCH GROUP AG UNSP/ADR (SWGAY)
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Source: Fortune
Data gathered for the Bloomberg Subdial Watch Index shows that market prices for a basket of models made by Omega, part of the Swatch Group AG company's stable of brands, declined by nearly 1% in the past 30 days. Indexes tracking prices for pre-owned models from brands including Rolex, Patek Philippe, Audemars Piguet, Cartier and Tudor rose during the same period. Prices for used Breitling watches were largely unchanged, the data shows. Officials at Swatch Group and Omega didn't respond to a request for comment. The drop in Omega prices came despite the publicity the 176-year-old watch brand, known for its Speedmaster, Seamaster and Constellation models, garnered as the official timekeeper of the Paris Olympic Games. Omega's logo was displayed prominently at event venues and on television during the international athletic competition, perhaps most notably with the photo finish of the men's 100-meter sprint final won by Noah Lyles of the US who captured the gold while wearing
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