Swiss Parliament Passes “Swissness” Bill to Regulate Swiss-Made Watch Claims

Last week the Swiss Parliament passed a bill designed to strengthen the “Swiss-made” which is so highly prized by the watch industry. Parliament passed the bill on June 21 after six years of work to set a new minimum rate of value for Swiss industrial products.

Dubbed the “Swissness” bill, the new motion means that timepieces which want to claim the Swiss-made label will need a 60% minimum rate of Swiss components. The Federation of the Swiss Industry (FH), a majority of manufactures, and the Federal Department of Justice and Police have worked closely with the Swiss government to have this minimum put into law. The FH have issued a statement applauding the move, calling it an “important and very favourable decision”.

The bill is anticipated to bolster Switzerland’s numerous manufactures, and will allow consumers to know that timepieces marked “Swiss made” will genuinely be manufactured in Switzerland. According to the FH, the bill is just the first in a series of moves designed to protect the highly-valuable Swiss watch industry.

The Swissness bill has passed both chambers of the Swiss Parliament, and is now before the Federal Council (a seven-member executive council which constitutes the federal government of Switzerland and serves as the Swiss collective head of state) as a draft ordinance.

Photo courtesy The Swiss Parliament / CH.

Luxury Watch Trends 2018 - Baselworld SIHH Watch News

Subscribe With Haute Time