Swiss watchdog limits Swatch parts trade

Thursday, 19. December 2019 14:42

Swiss independent federal authority Competition Commission (WEKO) announced on Thursday it plans to limit Swatch from selling components to watchmaking companies, Breitling and Cartier amongst others.

A Swatch spokesman said that Swiss watch manufacturer was selling the components to large businesses and that delivery will slow down due to WEKO’s action.

WEKO’s ban aims to restrict Swatch from rushing the market with parts while continuously monitoring the trade market until half of 2020. Shares of Swatch Group dropped 1.57% at 2:41 pm CET.

Related Links: The Swatch Group AG
Breaking the News / ND