Swatch Switches Distributors in Russia

Saying it is taking its watch distribution in Russia into its own hands, Swiss watch maker Swatch and its Russian distributor for watches LVB are parting ways. Swatch will transfer the watch sales activity of the Swatch brand (retail and wholesale) to a newly established company.

In a release Swatch Ltd. said the decision was “mutually agreed” on. The new company will start working February 1, 2006 and concentrate on a nationwide distribution of watches of the Swatch brand through a network of independent retailers. The new company will also be responsible for operating and increasing the number of corporate stores owned by the Swatch brand.

The new company will continue to employ all employees of the current watch operation of the Swatch brand at JamilCo group of companies that owns LVB.

Khaled Jamil, the president of JamilCo shall continue to support the Swatch brand as a member of an advisory board in the newly established company.