Swatch fire strikes entire Swiss watch industry | RetailDetail

Swatch fire strikes entire Swiss watch industry

Swatch fire strikes entire Swiss watch industry

A fire in one of Swatch Group’s factories threatens to impact the entire Swiss watch industry, as the company is an important parts supplier for its Swiss competitors.

Production back at full speed soon

About two thirds of all Swiss watches are built with Swatch parts: it has a Swiss monopoly on certain mechanisms and incidentally, a fire raged at a factory that creates these parts. CEO Nick Hayek has announced that there was only limited damage, and that within three to four weeks, full production could be resumed, but nevertheless, quite a few deliveries will be delayed.


Swatch has to deliver its system to competitors in Switzerland, as it has a dominant market position. It had reached an agreement in October to lower its forced deliveries to 75 % of the average of the past few years, with the goal to reach 55 % by 2015.


Swatch Group had a 2012 turnover of 6.5 billion euro. The first half of 2013 saw a 8.7 % increase to 3.4 billion euro, delivering a 620 million euro net profit.




(Translated by Gary Peeters)

Questions or comments? Please feel free to contact the editors

Starbucks fast-tracks design of recyclable, compostable cup


Coffee chain Starbucks is committing 10 million dollars (8 million euros) to bring a fully recyclable and compostable cup to the market within the next three years. Currently, some six billion Starbucks cups are distributed per year, an impressive 1% of the world's total. 

HelloFresh buys American competitor and achieved strong growth in 2017


HelloFresh’ turnover last year grew 52 %, bringing it closer to profitability. The German meal box delivery service believes it will become profitable before the end of the year.

Spar makes ambitious entry into Greece


Spar International has set its sights on Greece as the next country to conquer and lead as the foremost independent food retail chain. Spar Hellas will cooperate with Asteras and Mesis to develop more than 500 Spar stores over the next four years.

Dr. Oetker buys half of Freixenet


Henkell, which is Dr. Oetker’s drinks division, has acquired slightly more than half of cava brand Freixenet’s shares. Following two years of negotiations, both companies struck a deal, even though the German food giant will not reign supreme at Freixenet.

Picnic confirms German arrival


Picnic's co-founder Michiel Muller has confirmed earlier rumours that his Dutch online supermarket was trialing in Germany. He added that the trials were done under the brand name Sprinter.

Délifrance joins FFC's portfolio


Dutch Franchise Friendly ConceptsDélifrance Benelux acquisition is in full swing. The franchise organization will obtain the French sandwich chain’s Benelux master franchisee on 1 April.

Back to top