Comco: Swatch must slow down cuts to industry
by eyetee | July 16, 2013 3:15 pm
[1]The watch industry is breathing a temporary sigh of relief following a ruling by the Swiss Competition Commission (Comco) that Swatch Group cannot cut its supplies of movements as much as previously thought.
Comco ruled the company is allowed to scale back supplying movements and other components by another 10 per cent in 2014, however, its supply of assortments—which include the balance, hairspring or spiral, and escape wheel—will continue for now.
According to Reuters, Comco decided there are too few sourcing alternatives for assortments.
Comco previously ruled a reduction in supplies of ETA movements by 30 per cent in 2014-2015; 50 per cent in 2016-2017; and 70 per cent by 2018-2019.
It is estimated Swatch Group makes two-thirds of mechanical movements used in Swiss watches.
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Source URL: https://www.jewellerybusiness.com/news/comco-swatch-must-slow-down-cuts-to-industry/