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BREAKING NEWS: Swatch Group cancels 2020 launch event in Switzerland over coronavirus concerns

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Swatch Group has notified all press and retail partners that its Time To Move event, at which the 2020 collections of its luxury watch brands were to be launched, has been cancelled.

In an e-mail to WatchPro this afternoon, the statement says:

“Considering the uncertainty related to the 2019-nCoV Coronavirus outbreak, and in order to guarantee the welfare of our guests, partners, and colleagues, Swatch Group has decided not to hold the Time to Move event, which should have taken place in Zurich from March 4-6, 2020.

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The Swatch Group Prestige brands will introduce their new products to the markets at a later stage during regional events, in order to prevent their partners from travelling internationally in an insecure climate.

Your brand representatives will get in touch with you soon with further details.

Thank you for your understanding and valuable collaboration.”

1 Comment

  1. Given that the number of Coronavirus cases worldwide has overtaken that of the Sars epidemic, which spread to more than two dozen countries in 2003, the economic effects of the Coronavirus should not be understated. Watch brands and retailers which have any connection with China can expect to feel some impact.

    This will not be limited to imports to the UK given that the Lunar New Year holiday has been extended by the PRC government. Nor to a drop in the number of Chinese tourists visiting the UK and their consequent spend instore. As more cities in China are quarantined, those businesses with their own stores or franchised units or selling via the likes of Alibaba.com are also likely to see a reduction in turnover.

    It follows that we can expect to see references to the Coronavirus when financial updates are given. Similarly some businesses may look to the force majeure clauses in their contracts to check if such clauses may assist them in the circumstances.

    Stephen Sidkin
    Chair
    Fashion Law Group
    Fox Williams LLP

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Rob Corder

The author Rob Corder