Swatch Group says rivals help Asian watch fakes

By REUTERS

ZURICH: Swatch Group SA will cut supplies of watch movements to competitors to force them to invest in their own production and choke off exports to Asia where they may be used to make fake Swiss products, its Chief Executive Nick Hayek said.

His comments are the latest in a long-running dispute between the world’s largest watchmaker and rival Swiss companies who complain that Swatch Group’s announced plan to reduce watch movement deliveries from next year constitutes an abuse of its near monopoly control of the market.

“The Swiss watch industry has no shortage of mechanical movements if you stop selling them to people who will put them in fakes or unheard-of Hong Kong brands that will sell them as ‘Swiss made’ without respecting our standards,” Hayek said.

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Categories: Economics, Europe, Switzerland

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