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There’s a really weird legal situation in Switzerland that centres around the Swatch group being in a position of monopoly. It’s not that Swatch wants to cut off supply to their competitors outside the group (not yet anyway), it’s that they’ve been forced not to sell to them so that other movement suppliers (Sellita have been the main beneficiary) are able to gain market share. They were expecting to have the restrictions lifted recently but the industry watchdog extended them.
https://www.hodinkee.com/articles/swatch-group-comco-analysis
Regal
Is this because ETA are no longer supplying some of these smaller brands or because costs are rising?