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Leibish & Co

Tuesday, March 5, 2013

Swiss Watch Industry To End Association with Swiss Business Federation

The Federation of the Swiss Watch Industry said it will end its association with the Swiss Business Federation (economiesuisse) at the end of the year because the business federation, which represents the diversity of businesses in Switzerland, will not support the watch industry’s definition of “Swisness.”

“By failing to support the Federal Council’s proposal for industrial products, which sets at 60 percent the minimum rate of Swiss value in a Swiss product, economiesuisse not only stands in the way of strengthening the protection of this label, but raises the likelihood of it becoming weaker than it is at present,” FH said in a statement.

One of the primary tasks of the FH is to ensure that watches, clocks and other timepieces meet a series of requirements to ensure the product was built within the borders of Switzerland. Those that meet those requirements display the “Swiss made” or “Swiss” label. Among the requirements are that the timepiece movement is made in Switzerland, the movement is “cased up” in Switzerland and the final inspection is done in Switzerland.

FH is also active in protecting the industry and its label from counterfeiters.

The FH in its statement says that the Swiss Business Federation “runs counter to the interests of the Swiss watch industry.”

“The watch industry is certainly the industrial sector most affected by this subject, considering that nearly 100 percent of its products carry the label,” the statement read. “The latter contributes to the attractiveness of Swiss watches and their psychological appeal.”

They argue that “strengthening of the Swiss-made label generally promotes industrial activity in Switzerland and job creation.”


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