Little known outside professional circles, the Federation of the Swiss Watch Industry (FH) is an umbrella organisation that defends its members’ interests in Switzerland and internationally. Working quietly and efficiently, one of its most visible activities is the publication of monthly export figures: a reliable indicator of the sector’s good health. However, the FH does more than crunch numbers. The organisation, whose members come from across the industry, is renowned for its transparency yet rarely speaks publicly about its work. New member Kross Studio talks about its experience.
All-round support
“The FH is a body of experts that defends the interests of all the Swiss watch industry’s players,” Marco Tedeschi, founder of Kross Studio, explains. “Much of what it does stays under the public radar yet is conducive to business. For example, for a small company such as ours, which doesn’t have its own legal department, it’s fundamental that we can have access to advice on legal matters through the FH.” The importance of this is reflected at executive level: prior to his appointment as the FH’s president in November 2023, Yves Bugmann was the organisation’s chief legal officer.
Industry recognition
One of Mr Bugmann’s first tasks was to visit Kross Studio at their premises, as part of its membership application. The purpose of this visit was to gain a better understanding of the brand’s activity and ensure compliance with a certain number of norms. Its application was then put to the vote of current members. The FH functions collegially and every brand enjoys the same rights, irrespective of revenue or market share. “Joining the FH is a form of peer recognition. I can’t overstate how important and symbolic this is for a young brand such as ours,” insists Marco Tedeschi.
Help with new markets
Members can take advantage of the Federation’s many areas of expertise and resources. For an expanding business such as Kross Studio, this includes a database of statistics, past performances and major players for each market. “We plan to move into the Asia market, so this is vital information. Even before going there ourselves, we know the strengths and weaknesses of each market, which brands are already present and what’s at stake. For us this means increased efficiency and we save time,” says Marco Tedeschi.
He goes on to emphasise the importance of the Federation’s complete impartiality: “The FH promotes Swiss watchmaking with no partisan interest. It’s a driver for growth.” The same is true of the organisation’s magazine, Revue FH, in which Kross Studio featured even before becoming a member. “The magazine is widely read by the profession who see it as an authoritative voice and appreciate its exhaustivity and impartiality. It is genuinely independent,” Marco Tedeschi notes.
Future challenges
The FH is already working on foundational topics such as artificial intelligence, appreciation of the Swiss franc which penalises exports and regulations governing international relations, particularly with Europe, alongside multiple technical assignments. These include the implications for the industry of Reese’s law, introduced in the United States in 2022, which requires consumer products with button cell or coin batteries to have a secure closure which can only be opened using a screwdriver, coin or tool. This runs contrary to the easy-access battery compartments of many quartz watches including – though certainly not limited to – Swatch watches.
