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Chinese Watches to Challenge Cheaper Swiss Brands

Chinese watchmakers will challenge producers of lower-priced Swiss watches because they can make components at prices Switzerland can’t match, the chief executive officer of luxury brand Parmigiani said.

“If I was producing a cheap watch, honestly you have to go to China,” said Jean-Marc Jacot, CEO of Parmigiani, whose average price is $70,000. “You have no solution. It is too expensive to produce in Switzerland.”