Swiss competition authority WEKO has declined to open a formal investigation into watchmakers over the supply of spare parts for independent watch repair shops.
According to a report from Reuters, WEKO has decided not to look into the likes of Swatch Group, LVMH and Richemont about the matter.
WEKO cited a separate European Commission examination of the same watchmakers that concluded that service after sales agreements were ‘neither unacceptable nor an abuse of market dominance.’
WEKO said that an EU court has already rejected an appeal of that decision. In a statement, the competition authority said: “No elements could be identified that would point to a conclusion that would differ from the one arrived at by the EU.”
Full Content: Reuters
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