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.

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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