Exports going down, Brands being sold, or worst going bankrupt, Coronavirus…. it seems Swiss watch brands are having a hard time right now. Is there hope? Should we be optmistic for the future? Of course! There are several good reasons to see the future on the bright side. The Swiss watch industry has strong competitive differences that will allow the perpetuation of the business. For the rest, they represent either structural or conjectural status that can only be short term.
Swiss Watch Industry Secret Weapon: The Swiss Made.
Many companies around the world try to compete against Swiss Watch Brands. Competition comes from Asia, Germany, USA and even France. They try to level up their game and offer high quality watches in order to match what Swiss brands are doing. The harder they try, the clearer is that they will always miss one important point: what does it means being Swiss Made.
All around the world, the Swiss Made label means exactly the same definition. From watches but also to other products like machines, chocolate, cheese or even banks, the Swiss Made is probably the highest standard in these domains. In Watchmaking we could define Swiss made as:
- Outstanding Know-how
- High quality
- Perfect aesthetics
- Technical innovation
- The only watch label guaranteeing a certain level of quality
That is why all Swiss brands should protect this label and being proud of it. It is more than a simple label, it is a heritage and a promise. Being the only quality label in watchmaking means that you need to lead the way, not only in product development but also in educating the consumer. Swiss made is also something very important because it guarantees the client satisfaction. You cannot be wrong on buying a Swiss watch.
The Swiss-made naming not only depends on a certain value created in Switzerland but the law also determines specific criteria that apply to all watches produced. The law was even reinforced integrating the idea of Swissness. One of the important criteria is that at least 60% of the product value should be produced in Switzerland. The first time Swissness became an important word, it was in 2009. Facing the economic crisis, the Swiss watch industry started defending themselves with a higher level of strict conditions and rules. These conditions helped to preserve jobs and making sure the value produced remained in Switzerland. The Swissness rule helped to preserve around 50’000 jobs and at least 1’000 apprenticeship in the country.