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Swatch Group Reverses Course and Suspends Sales in Russia

  • Move underscores difficulty luxury brands have in Russia
  • Swatch will keep employees on board in hopes of ‘better times’
A Speedmaster luxury wristwatch, produced by Omega, a unit of Swatch Group.

A Speedmaster luxury wristwatch, produced by Omega, a unit of Swatch Group.

Photographer: Stefan Wermuth/Bloomberg

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Swatch Group, the producer of luxury Swiss watch brands including Omega and Blancpain, said it has suspended retail operations in Russia.