More. After 70 years, the last tie factory in Switzerland closes (cross-border guide)

Context

In a nutshell Bachmann Krawatten in Zurich Oerlikon has declared bankruptcy. The eleven employees were put out of work. ## Key facts What: Last tie factory in Switzerland. When: After 70 years in business. Where: Zurich Oerlikon. Who: Bachmann Krawatten Company. Amount: Eleven employees out of work. Bachmann Krawatten, a company specializing in the artisanal production of ties and accessories, has declared bankruptcy after more than seventyyears of activity. The news was greeted with surprise by the local community and employees, who have worked for years to keep this traditional Swiss craftsmanship alive. Bachmann Krawatten was the last tie factory in Switzerland, a sector that has seen a significant decline in recent years due to competition from imported products and a growing preference for ready-made clothing. According to data from the Federal Ministry of Economy, the textile clothing sector in Switzerland has suffered a 15% decline in the last five years. Bachmann Krawatten had a long history of success and had produced over 100,000 ties a year. The company also had a distribution network in Switzerland and abroad, with customers in cities such as Bern, Lausanne and Geneva. However, the financial crisis and competition have made it increasingly difficult for the company to maintain its market position. Federal Trade Act of 21 June 1991: regulates trade in Switzerland and imposes obligations on companies in the textile clothing sector. Federal Regulation on production standards of 10 September 1998: regulates the production standards for the textile clothing sector in Switzerland. Cantonal Trade Act of 1 January 2010: regulates trade in the Canton of Zurich and imposes obligations on companies in the textile clothing sector. ## References to Swiss cantons or cities relevant to the subject Canton Zurich: this is the canton where the Bachmann Krawatten tie factory is located and where many initiatives have been developed to support the textile clothing industry. City of Bern: It is the capital of Switzerland and home to many financial and commercial institutions that support the textile clothing industry. City of Lausanne: It is a Swiss city known for its production of fabrics and fashion accessories. ## Concrete examples with real numbers Turnover: Bachmann Krawatten recorded a turnover of CHF 1.5 million in 2022. Profit: Bachmann Krawatten posted a profit of CHF 200,000 in 2022. Loss: Bachmann Krawatten recorded a loss of CHF 500,000 in 2023. ## References to relevant laws and regulations

Operational details

More. After 70 years, the last tie factory in Switzerland closes

The closure of the Bachmann Krawatten company was caused by several factors, including reduced demand for ties due to the change in the way people dress and increased low-cost Asian competition. Tie production has been a declining industry in recent years, with demand plummeting due to the rise in casual wear and the reduction in the amount of formal occasions.

According to data from the Federal Institute of Technology (ETH) in Zurich, the Swiss tie market declined by 30% between 2015 and 2020. This decline has been accelerated by the COVID-19 pandemic, which has led to an increase in informal clothing and a reduction in formal occasions, such as weddings and conferences.

Asian competition was another major factor contributing to the company's closure. Tie production in China and other Asian countries has risen sharply in recent years, making it difficult for European companies like Bachmann Krawatten to compete at low prices. According to data from the Swiss Customs Administration, the value of tie imports from China increased by 50% between 2018 and 2022.

The closure of the Bachmann Krawatten company is a concrete example of how the tie market has changed in recent years. The company had a long history in

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Key points

More. After 70 years, the last tie factory in Switzerland closes

The closure of the company left the eleven employees out of work, including director Peter Bachmann, who has led the company since the third generation. The director stated that the closure was a difficult decision, but that there had been no prior enforcement proceedings or threats of bankruptcy. The closure of the company has left a sense of melancholy, but the director does not want to hear about the death of the tie: 'It will be worn less than in the past, but it will not disappear completely'.

Peter Bachmann's tie factory has been a symbol of the Swiss textile industry for over seven decades. Its story begins in the 1950s, when the director's grandfather began producing handcrafted ties in the city of Lucerne. Over the years, the company has grown and expanded, becoming one of Switzerland's leading tie factories.

However, in recent years, the company has begun to suffer due to international competition and the economic crisis. The director stated that the closure was a difficult decision, but that there had been no prior enforcement proceedings or threats of bankruptcy. The closure of the company has left a sense of melancholy, but the director does not want to hear about the death of the tie: 'It will be worn less than in the past, but it will not disappear completely'.

Switzerland is notoriously

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Source: swissinfo.ch