Change the World 2023
In a year when some U.S. brands have been criticized for allowing anti-LGBTQ+ activists to curtail corporate inclusion efforts, the Swatch Group has doubled down on its pledge to support diversity globally. The Swiss watch company recently sued the Malaysian government for seizing $14,000 USD worth of Swatch watches released in time for Pride Month in June. (The grab was seen as a political stunt in a country where anti-LGBTQ+ laws are rarely enforced.) "We strongly contest that our collection of watches using rainbow colors and having a message of peace and love could be harmful,” said Nick Hayek Jr, CEO, in a statement. Swatch Group, which also includes brands Tissot, Longines, and Omega, among others, has meanwhile seen record-breaking sales this year: Net sales for the first half of 2023 reached 4 billion Swiss francs ($4.64 billion), up 18% year over year. The surge in popularity comes as the company boasts of a deepening focus on sustainability, with about half of Swatch watches now made of a new "bioceramic” material, a proprietary blend of plastic created from castor beans and ceramic. The company says it’s on track to become climate-neutral for Scope 1 and 2 emissions by 2050.
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