ZURICH — Swatch Group, the world’s biggest watchmaker by revenues, is poised to secure a long-sought deal to cut sales of key components to other brands in what would be a serious setback to rivals like LVMH Moët Hennessy Louis Vuitton and Compagnie Financière Richemont SA.
The deal was revealed by Swatch’s top lawyer at the group’s annual news conference, but he did not provide details. Patrik Ducrey of Switzerland’s Competition Commission confirmed to WWD a settlement had been reached, subject to approval by the full commission.
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