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.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
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