Billions exit bank accounts after years of inflows

By Editor / October 1, 2021 / 0 Comments

Saab builds 9-3 test cars ahead of 2021 production launch

By Editor / October 19, 2021 / 0 Comments

Lithia relaxes grip on store operations

By Editor / October 9, 2021 / 0 Comments

Study raises new concern about earthquakes and fracking fluids

By Editor / September 27, 2021 / 0 Comments

Kirobo the talking robot blasts into space on historic mission

By Editor / November 6, 2021 / 0 Comments

What puts the Swiss in a “Swiss Made” watch?

What puts the Swiss in a “Swiss Made” watch?

How much are the words “Made in Switzerland” worth to consumers increasingly vigilant about the provenance of everything from what they eat to what they wear? The answer, luxury watchmakers say, is “a lot.”

Protecting the label is essential to the industry’s image, profitability and future growth, many luxury watchmakers say, and studies by St. Gallen and Zurich universities do show the tag can almost double a luxury watch’s price.

But as with so many other products in a globalised world, there is a gray area around what makes a watch Swiss, and that lack of clarity has consequences for quality – and revenues.

The issue is part of proposed new legislation before Switzerland’s parliament to regulate the use of

the label for foods, services and industrial products.

With politicians and lobbying groups fighting over designations on products as diverse as cheese, pocket knives and textile machines, the chances for passage this year are dimming, however, and many watchmakers are growing anxious at the delay in solving what they see as an urgent problem.

“This law is (like the debate over) the Loch Ness monster,” said Richard Mille, whose ultra-light watches are worn by tennis player Rafael Nadal.

“I’m not sure if there ever will be a solution.”

In the first discussions in the two houses of parliament, the lower house has argued that 60 percent of the value of an industrial product must originate in Switzerland for it to be labeled “Made in Switzerland”, in line with the draft law proposed by the government, while the upper house holds that 50 percent is sufficient.

(See More)