Following a statement from the Swiss competition authority, COMCO, saying it wants to prohibit the Swatch Group from supplying watch mechanisms to other companies during 2020, Swatch, the world’s biggest watch maker, has threatened to pursue damages.
“The provisional measures adopted by COMCO are incomprehensible and unacceptable,” said Swatch in a statement. “In view of the negative financial repercussions that these decisions will entail, Swatch Group reserves the right to claim damages.”
COMCO’s Director Patrik Ducrey said, it would issue a statement later on Thursday.
He has clarified that the agency’s approach allows Swatch and its ETA subsidiary to continue delivering mechanisms to small and medium-sized watchmaking enterprises, for now.
A final decision is expected by summer 2020, said Ducrey.