×
2 096
Fashion Jobs
YVES SAINT LAURENT UK LIMITED
Saint Laurent HR Manager UK, Ireland & Netherlands
Permanent · LONDON
SHISEIDO
Bareminerals Account Manager - Hof Bluewater (35 Hours)
Permanent · Dartford
SHISEIDO
Laura Mercier Account Manager - Harvey Nichols, Edinburgh
Permanent · Edinburgh
ESTÉE LAUDER
Origins - Online Trading Manager - Brand Site
Permanent · London
ESTÉE LAUDER
Multi Brand - Multi Brand Business Manager - House of Fraser, Rushden Lakes - 37.5 Hours - Full-Time - Permanent
Permanent · Rushden
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 36 Hours - Full Time - Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Leeds, Trinity - Boots - 26 Hours - Part-Time, Permanent
Permanent · Leeds
ESTÉE LAUDER
Clinique - Consultant - Halifax, Harveys - 15 Hours - Part-Time, Permanent
Permanent · Halifax
ESTÉE LAUDER
Aveda - Account Manager - House of Fraser-White City, London - 30 Hours - Full Time, Permanent
Permanent · London
FOREO
E-Key Account Manager
Permanent · London
FOREO
Marketing Manager
Permanent · London
VF INTERNATIONAL
Warehouse Trainer And Instructor
Permanent · COALVILLE
OUTSIDE THE BOX RECRUITMENT
Account Manager Kidswear
Permanent · LONDON
THE KOOPLES
Regional Manager London
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Digital Marketing And e Commerce Manager
Permanent · LONDON
ESTÉE LAUDER
Estee Lauder - Consumer Campaign Email Marketing Executive
Permanent · London
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
NEW BALANCE
Marketing Director, Emea
Permanent · Warrington
EASTPAK
Credit Controller - French Speaking - Eastpak
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - German Speaking - The North Face
Permanent · CALVERTON
CONFIDENTIAL
Regional Manager London
Permanent · LONDON
ESTÉE LAUDER
la Mer - Business Manager - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
Advertisements
By
Reuters API
Published
Dec 20, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swiss competition watchdog curbs Swatch watch movement shipments

By
Reuters API
Published
Dec 20, 2019

The Swiss competition watchdog on Thursday restricted Swatch Group's shipments of watch mechanisms to other companies ahead of a final decision in mid-2020 in a long-running dispute.




The world's biggest watchmaker is also an important supplier of watch movements that power mechanical timepieces. If it cannot sell them, Swatch itself and its customers, from Cartier maker Richemont to independently owned Chopard and Breitling, may face problems.

Anti-trust agency WEKO said deliveries of watch movements to Swatch Group's existing customers would be suspended from Jan. 1, with an exception for small and mid-sized companies of up to 250 staff, until the watchdog reaches a final decision.

The decision creates uncertainty over supplies at a time when Swiss watchmakers face competition from smartwatches and slowing demand in key market Hong Kong. Swiss watch export data on Thursday showed shipments to Hong Kong fell 27% in November.
Swatch shares were indicated 1.1% lower in pre-market trade.

A Swatch Group spokesman said the lion's share of the watch movements sold by Swatch's ETA unit was absorbed by companies with more than 250 staff and the group expected not to be able to deliver any movements to third parties next year.

WEKO Director Patrik Ducrey said Swatch Group was still allowed to supply smaller customers, but had to treat them all equally.

"Is there really going to be a shortage of watch movements? I'm not sure. There's also a grey market and brands have built inventories," he told Reuters.

Swatch Group had said on Wednesday that it could seek damages.

The question of how to end Swatch Group's historical quasi-monopoly on mechanical watch movements has kept the competition authority busy for years.

WEKO and Swatch struck a deal in 2013 under which the company known for high-end Omega and colourful plastic watches agreed to gradually phase out movement supplies to the rest of the industry by the end of 2019 and would have been free to choose its customers and prices from 2020.

Swatch itself had initiated the change at the time, saying it no longer wanted to serve as a "supermarket" for other brands, but had to keep supplying rivals for several years because of its dominant market position.

Privately owned Sellita has since emerged as the main alternative supplier. Swatch Group said in its statement on Wednesday Sellita would benefit from WEKO's decision.
Sellita and Richemont could not immediately be reached for comment.

 

© Thomson Reuters 2021 All rights reserved.