COMCO opens an investigation against Swatch Group
The Swiss Competition Commission COMCO announced today on its website that «COMCO is opening an investigation against Swatch Group».
This investigation was initiated by Swatch Group and should determine which mutually agreed solution is available to allow Swatch Group to reduce gradually its deliveries of mechanical watch movements and assortments to third parties, in the interest of the entire watch industry.
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Net sales of CHF 6 735 million, -12.2% against the previous year at constant exchange rates(-14.6% at current rates). Negative currency impact of CHF 192 million. Operating margin of 10.6% in the Watches & Jewelry segment (without Production). Improvement to 12.2% for the fourth quarter, or 14.1% for the month of December. …