Omega, Rolex watch demand booms despite rising prices

Omega producer Swatch Group AG and the UK’s biggest retailer of Rolex watches signaled the appetite for Swiss timepieces remains healthy even as prices go higher. Swatch shares rose as much as 7% as Chief Executive Officer Nick Hayek said revenue may reach a record this year helped by demand in China and the US. Separately, Watches of Switzerland Group Plc surged as much as 18% after the UK retailer said demand for luxury timepieces is still solid despite price increases by some of the biggest brands.