We interrupt #CrowdFundCanada for a very interesting debate occurring over the definition of “made in _____.”
There is new legislation before Switzerland’s parliament that, if passed, would require stricter labeling for all exports including Swiss watches. But while the lower house are proponents of “Made in Switzerland” being defined as 60 percent of the value of an industrial product originating in the country, the upper house stands by 50 percent.
According to Reuters:
“Both versions are stricter than the 40-year-old “directive” currently governing the use of the “Swiss Made” stamp used for watches, which says at least 50 percent of the value of only the watch movements must be made in Switzerland.
This means cost-conscious watchmakers in the lower-priced segment can import 100 percent of the cases, dials, hands and straps and still mark their watches “Swiss Made” as long as half of the parts of the watch movement are made at home.”
The bottom line? If this law doesn’t pass, a “Swiss Made” watch can be almost entirely crafted in (insert country here).
Meanwhile, we’re still getting over the original law. 50 percent made in Switzerland is still considered Swiss?
*Photo from Esquire courtesy of Getty Images