Swatch confirms Italian competition probe
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Swatch confirms Italian competition probe
Swatch Group says that the Italian competition authority (AGCM) had carried out inspections at the company's premises in Italy.
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Swatch confirmed to AWP that the AGCM suspects the Biel-based watchmaker of engaging in anti-competitive practices.
In particular, investigators suspect Swatch Group of imposing sales prices on its retailers in the country.
The French news agency AFP revealed on Tuesday that the Swiss company, like the Japanese watchmaking group Citizen, which includes the Geneva-based Frédérique Constant brand as well as Bulova, Vagary and Alpina, was in the sights of Italian investigators.
The AGCM opened an investigation and carried out inspections at the Italian premises of the two groups to “verify a possible violation of Article 101 of the Treaty on the Functioning of the European Union (TFEU), consisting in the fixing of public prices displayed on the online channels of their authorised distributors”.
Retaliatory measures?
“We confirm that the Italian authorities have visited the premises of Swatch Group Italy in order to obtain information regarding a possible non-compliant practice on the pricing procedures of our Tissot Italy and Mido Italy brands. The Group is cooperating and participating fully in this procedure and wishes to shed full light on this potential violation by Tissot Italy and Mido Italy”, a Swatch spokesperson told AWP.
According to the Italian competition authority, Swatch Group and Citizen are monitoring the prices charged by their retailers at the same time, with retaliatory measures for those who offer discounts. The spokesperson did not comment on this specific point.
Adapted from French by DeepL/mga
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