Switzerland news and archive

Swiss watch exports to China plunge 50 percent in September

Zurich - Swiss watch exports suffered their steepest fall this year in September, pulled down by a 50-percent plunge in sales to China, the industry's federation said Thursday. It marks the latest sign of weakening demand in the world's second-largest economy, which has hit Europe's luxury sector. Sales to Hong Kong also fell 34.6 percent during...

Business

Amazon restricts its Swiss offering

Online platform Amazon will soon stop supplying Switzerland via its website Amazon.com. The reason is a change in value-added tax law, which will come into force in January. With the new legislation, the Swiss government aims to put domestic and foreign mail order companies on an equal footing. Until now, the import tax for deliveries to...

Business

Sufficiently Swiss: at least 60 percent for watches

Switzerland adopted on Friday regulations requiring that locally-made parts account for at least 60 percent by value in order for watches to bear the coveted and lucrative "Swiss Made" label. The government said in a statement that the change, to go into effect on January 1, expands the criteria for judging whether a watch is sufficiently Swiss...

Retail

Bata to close Switzerland stores

Global footwear manufacturer and retailer Bata is to shut down all of its stores in Switzerland, where the brand is headquartered, as it looks to reposition the business in the country to address a shift in customers shopping patterns to buying online. As part of a wider restructuring of the business, Bata has decided to close its remaining 29...

Retail

Jigsaw eyes up Switzerland for European expansion base

London - Premium, high street retailer Jigsaw is currently eyeing up Switzerland as the potential base for a European expansion push. The fashion retailer, which has blossomed following a design renewal led by chief executive Peter Ruis, aims to grow its revenues from 100 million pounds to 500 million pounds and believes Switzerland would...