Clock ticking for Swiss watchmakers – Yahoo7 Finance Australia

‚Clock ticking for Swiss watchmakers‘ on Yahoo7 Finance Australia. LA CHAUX-DE-FONDS/LE LOCLE, Switzerland, Reuters – In two small Swiss towns, watchmakers are trying to strike a balance as delicate as the mechanisms in their precision-engineered watches – squeezing suppliers to cope with an industry crisis while preserving the skills that have driven past successes. La Chaux-de-Fonds, home to just 39,000 people, and even smaller neighbour Le Locle have been at the heart of the Swiss watchmaking industry since the 19th century. Top manufacturers such as Swatch Group, Richemont and LVMH have responded by demanding price cuts from suppliers and taking more production in-house.

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