Corporate social responsibility in the Swiss watch industry: perceptions and practices

Abstract

The study analyzed perceptions and practices related to corporate social responsibility (CSR) in the Swiss watch industry gathering data from twelve luxury Swiss watch brands of varied sizes using qualitative interviews.  Findings suggest that the industry, which has historically been very secretive, is becoming increasingly aware of the importance of CSR and therefore is investing in it especially in the past ten years. The luxury watch brands viewed their membership in the luxury segment as a compelling reason to practice CSR. With regard to value chain management, implementing responsible trading practices was seen to provide intangible benefits such as consolidation of the brand. Brands of the same group tended to treat several CSR aspects the same way, but also differed in significant ways in the way they practiced CSR. Recommendations are offered to improve the participation of the Swiss watch brands in CSR.