H Moser takes aim at new Swiss watchmaking regulations with satirical 'Swiss Mad' watch

A Swiss watchmaker on Thursday unveiled a one-million-euro "Swiss Mad" wristwatch with a case made of local winter cheese and a dial recalling the nation's distinctive red-and-white flag.

The tongue-in-cheek edition by H.Moser targets new strictures on watchmakers using the "Swiss Made" label who now have to source 60 percent of the components domestically against 50 percent earlier.

The new law came into force at the start of this year. As previously reported by Fashion Network, H.Moser has dropped the "Swiss Made" moniker since and said it would also release "the most Swiss watch ever created."

"Our Swiss Mad Watch sends a clear message to the Swiss watchmaking industry, the authorities and watch enthusiasts: the Swiss Made label is meaningless. Worse than this, it gives credibility to the worst abuses in our industry. Our response to this lax and insufficient label is derision," said Moser CEO Edouard Meylan.

The dial is smoked red with the four white lacquered indexes indicating every quarter of an hour.

The cheese fringing the case is Vacherin Mont d'Or medaille d'or, which is made in winter, and comes from the same village as Meylan. It is fortified with resin to hold up to use and time.

The steep price tag -- 1,081,291 francs ($1.0 million) -- is a reference to the date the Swiss Confederation was set up: August 1, 1291.

"All proceeds from the sale of this watch will be used to create a fund to support independent Swiss watchmaking suppliers currently suffering under the difficult economic situation and outsourcing to Asia," Meylan said.

The "Swiss Mad Watch" will be presented at the four-day international luxury watch show -- Salon International de la Haute Horlogerie -- which will be held in Geneva from Monday.Zurich, Jan 12, 2017 (AFP)