RIYADH, 26 September 2003 — The Ministry of Commerce is considering regulations to block the entry of fake watches as well as those that have been modified and sold as genuine into the Kingdom.
Pointing out that even luxury watches are faked in some countries, Jean-Marc Pequignot, regional manager of Corum, said the matter had been discussed with the Ministry of Industry and Commerce. The ministry has said that a new regulation is being studied and written. According to Yasser Al-Sayed, executive manager of Al-Fardan Jewelry, the Saudi Arabian Standards Organization (SASO) has set criteria and standards for jewelry but none for watches. This makes it difficult to distinguish between what is real and what is fake, he explained.
Pequignot pointed out that apart from imitation watches, counterfeiters in the Gulf states modify the genuine products by replacing some components with cheaper ones and selling the watch for half price. “This is forbidden everywhere in the world but unfortunately, there is no law here that applies to this situation.”
Asked about a solution, Pequignot said the focus was on innovation, exclusivity, prestige and limited-edition watches. “This is one way to deal with counterfeit products. Otherwise, the criminals sell the watches at half price by calling them second-hand or using some other trick.”
Saudi Arabia is an important market for Corum watches, whose sales in the Kingdom amount to some 15 percent in terms of value though less than 5 percent in quantity. The new Corum collection includes a special edition watch for the Gulf market with a price tag beginning at SR7,000.
