'Stake in Diamond Mine Interesting,' Says Swatch CEO

(IDEX Online News) – As demand for watches set with diamonds is growing, Swatch finds direct ownership of a diamond mine to be "interesting," especially in light of the company's difficulty in finding exactly what it wants – and in the desired quantity.

"As the fifth-biggest consumer of diamonds, a stake in a diamond mine would be interesting," CEO Nick Hayek told the Finanz und Wirtschaft daily.

"The demand for watches with diamond decoration has increased explosively. We can't store enough diamonds, and on the market the desired quality are only available in too small numbers."

Currently a number of manufacturers and retailers are invested in diamond mines, including Tiffany and Graff.

Swatch Group luxury range includes the brands Breguet, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega and Tiffany & Co.