Peter Stas, co-founder and chief executive officer of Frédérique Constant, said the ruling would give independent brands time to continue developing their own mechanical movements, or calibers, and prevent them from having to seek foreign suppliers for essential regulating mechanisms like high-tech hairsprings.
“We feel it is the right decision for the Swiss watch industry on a number of levels,” Stas told WWD via e-mail. “It creates at least temporarily clarity and stability after an acrimonious fight within the Swiss watch industry.”
With the exception of Swatch Group, leading industry players have yet to react to Friday’s announcement by the Swiss Federal Competition Commission, or Comco, that it has rejected an agreement struck between its Secretariat and Swatch Group.
Nick Hayek, ceo of Swatch Group, said he regretted the ruling, which allows Swatch Group in principle to continue cutting its delivery of mechanical movements in a gradual way and under certain conditions, but halts any reduction in the supply of assortments.
Frédérique Constant was one of nine companies that appealed a temporary decision by Comco in 2011 authorizing Swatch Group to trim its supply of parts. They argued the sudden reduction in supply could put smaller brands out of business, but the Federal Administrative Court in Bern rejected the appeal in December 2011.
Stas said Frédérique Constant plans to continue investing in expanding its caliber production. “With the Comco decision, we hope that we can concentrate again on development and production of mechanical movements and watches,” he said.
The Comco decision reestablishes Nivarox, the Swatch Group division that produces oscillating and escapement parts, as the long-term supplier for Swiss-made hairsprings, or spirals, produced in large quantities, Stas said.
“For Swiss-made spirals, Nivarox is the only company who can produce spirals at reasonable cost because of history and economies of scale,” he argued.
Hayek has contended the easy availability of his group’s components has made rivals disinclined to invest in their own production capacity, and allowed them to divert spending to marketing and store networks instead.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye