Tissot ECONOMIC

Target: Tissot S.A. / Tissot Ltd

Parent: The Swatch Group Ltd

Research date: 23 October 2026

Scope: Israeli commercial, investment, supply-chain and operational relationships, including investigation of potential activities within occupied territories.

Supply Chain & Sourcing Relationships

Direct supplier relationships

Tissot operates in Swiss watchmaking and sells watches through an international authorised-retailer network, as described in its corporate customer information and independent watchmaking-industry history.^{1, 2}

No public evidence identified of Tissot purchasing agricultural products from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors or other Israeli agricultural exporters.

No public evidence identified of an Israeli manufacturer supplying specifically identified components to Tissot.

Importer and distribution structure

As of October 2026, Roltime Group’s Israeli corporate website identifies Tissot among its officially imported watch brands and describes Roltime’s activities as importing, distribution, retail, ecommerce, marketing, business-to-business services and after-sales support.³

The Israeli retailer Impress identifies Roltime as Tissot’s official importer in Israel and offers a dedicated catalogue of Tissot watches priced in Israeli shekels.⁴

Roltime’s Hebrew-language corporate information states that the group was founded in 1993 and provides international brands with local importing, distribution, retail and support services.³

Roltime’s after-sales information confirms that its Israeli operations provide watch-repair services, while its published locations include a Tissot-branded boutique.^{5, 6}

These records establish a third-party Israeli commercial distribution and retail arrangement as of October 2026, although they do not identify the legal importer of record for individual customs entries.^{3, 4, 5}

No public evidence identified that Roltime Group or Impress is a wholly owned subsidiary of Tissot S.A. or The Swatch Group Ltd.

No public evidence identified of a Tissot-controlled Israeli import joint venture.

Seasonal sourcing patterns

No public evidence identified of recurring seasonal procurement from Israeli suppliers, including December–April agricultural sourcing.

Third-party and indirect sales

Impress’s current Tissot catalogue establishes Israeli retail availability through Roltime’s distribution and retail network.⁴

The separate retailer COL TIME is identified in Tissot’s official store directory as offering Tissot watches at a physical shop at 51 Eben Gvirol Street, Tel Aviv, providing additional evidence of local consumer-market availability.⁷

Tissot’s general customer guidance confirms that the brand distributes watches through authorised retailers and official online boutiques, although that statement alone does not establish the authorisation status of every Israeli reseller.¹

No public evidence identified of Tissot selling Israeli-origin goods under a private-label or white-label arrangement.

Settlement-specific supply chain

No public evidence identified of Tissot purchasing products, materials or services from suppliers operating in Israeli settlements.

No public evidence identified of Tissot products being supplied to settlement-based retailers through a verified, named contractual arrangement.

Product Origin, Labeling & Regulatory Compliance

Product origin

The Fondation de la Haute Horlogerie identifies Tissot as a Swiss watchmaking brand founded in Le Locle in 1853, with a history of Swiss horological production and technological development.²

Tissot’s public customer documentation describes its international product authentication and authorised-retailer system, including individual watch-identification and warranty-registration mechanisms.¹

No public evidence identified of Tissot watches being manufactured in Israel or occupied Palestinian or Syrian territory.

Settlement-origin products

No public evidence identified of a Tissot product identified by a regulator, customs authority or documented NGO investigation as manufactured or sourced from an Israeli settlement.

No public evidence identified of Tissot watches being misleadingly labelled “Made in Israel” or otherwise misrepresenting settlement origin.

Applicable regulatory framework

The UK government’s guidance, updated on 9 June 2026, distinguishes Israel from Israeli settlements in occupied territories and advises businesses against economic and financial activities in those settlements.⁸

The same guidance explains that settlement-origin goods are excluded from preferential tariff treatment under the applicable UK-Israel trading arrangements and describes rules intended to distinguish goods produced in settlements from goods produced within Israel.⁸

The UK government’s parallel guidance concerning the occupied Palestinian territories likewise addresses the economic and legal risks of activities connected with settlements.⁹

The publication record confirms that the UK government reviewed and updated its Israel business-risk guidance in June 2026.¹⁰

No public evidence identified of a customs penalty, consumer-protection enforcement decision or origin-labelling prosecution involving Tissot and settlement-produced goods.

Corporate labelling policy

No public evidence identified of a Tissot-specific public policy addressing product sourcing or country-of-origin labelling for goods from Israeli settlements.

Regulatory developments after 2024

The UK Foreign Secretary’s parliamentary statement of 9 June 2026 announced strengthened warnings to businesses concerning economic activities in Israeli settlements.¹¹

On 19 October 2026, a further UK government statement addressed settlement-construction tenders and associated legal and reputational risks; that statement does not identify Tissot as a participant.¹²

No public evidence identified linking Tissot to the settlement tenders discussed in those government statements.

Investment, Capital & Financial Exposure

Direct investment and acquisitions

Tissot’s corporate privacy notices identify The Swatch Group Ltd as its parent company and identify Tissot’s Swiss brand headquarters.^{13, 14}

The reviewed Israeli distributor and retailer records establish commercial representation through Roltime and Impress, without identifying an equity acquisition by Tissot or the establishment of a Tissot-owned Israeli company.^{3, 4}

No public evidence identified of Tissot acquiring an Israeli operating company or holding a controlling stake in an Israeli manufacturer, technology business, retailer, infrastructure company or other operating enterprise.

No public evidence identified of an Israeli acquisition price, closing date, ownership percentage or wholly owned Israeli subsidiary attributable to Tissot.

No public evidence identified of Tissot-owned Israeli manufacturing facilities, data centres, logistics centres or investment properties.

Acquired Israeli identity

No public evidence identified of an acquired Israeli business operating as a controlled subsidiary of Tissot.

Consequently, no verified Israeli subsidiary could be assigned an acquisition price, employee count, manufacturing address, market position or defence-sector relationship.

Research, development and innovation

No public evidence identified of a Tissot-operated research and development centre, technology accelerator, laboratory or innovation facility in Israel.

No public evidence identified of a Tissot-specific innovation grant or Israeli Preferred Technology Enterprise designation.

Parent-company ownership and financial exposure

Tissot’s US privacy notice identifies The Swatch Group Ltd, based in Biel/Bienne, Switzerland, as the brand’s parent and identifies the Tissot brand headquarters in Le Locle.¹³

Its UK privacy notice similarly identifies the Swiss parent and Tissot S.A.’s Swiss headquarters, independently confirming the disclosed corporate relationship.¹⁴

The UK Tissot business has also historically been operated through The Swatch Group (UK) Ltd, an affiliated legal entity, as stated in its commercial terms.¹⁵

No public evidence identified of a controlling Israeli ownership stake in Tissot S.A.

No public evidence identified of an Israeli holding company exercising beneficial control over Tissot.

No public evidence identified of a Tissot-specific Israeli portfolio investment or material holding in an Israeli investment fund.

No public evidence identified in the reviewed records of a direct Israeli acquisition or settlement property investment by the Swiss parent that can be attributed specifically to Tissot.

Financial instruments and sovereign financing

No public evidence identified of Tissot underwriting, arranging, distributing or investing directly in Israeli sovereign debt or Israel Bonds.

No public evidence identified of Tissot providing direct financing to Israeli defence contractors or settlement-active businesses.

No public evidence identified of Tissot acting as an insurer, lender, securities underwriter or investment manager for Israeli state activities.

Controlling principals

The Swiss corporate ownership disclosed by Tissot establishes the immediate parent relationship, but the available Tissot legal notices do not itemise the personal investments of individual directors or shareholders.^{13, 14}

No public evidence identified of a material personal Israeli investment by Nayla Hayek, Nick Hayek, Marc Alexander Hayek, Sylvain Dolla or the founding Tissot family that could be linked to the target’s operations.

No public evidence identified of a verified Israeli defence-industry, settlement-enterprise or military-procurement investment held through a personal vehicle of these individuals.

Operational Presence & Market Activity

Israeli retail footprint

Impress publicly identifies a dedicated Tissot boutique at Ayalon Mall, 301 Abba Hillel Silver Road, Ramat Gan, with a published telephone number and trading hours; the branch information remained publicly available in October 2026.¹⁶

Roltime’s separate locations directory identifies the same Tissot boutique among its Israeli retail and service operations.⁶

This supports a continuing Tissot-branded physical retail presence in Israel as of October 2026, although the public listings do not establish whether Tissot S.A. directly owns the premises.^{6, 16}

Impress’s Tissot product catalogue displayed 242 listed products when reviewed in October 2026, including watches in the PRX, Seastar and other collections, with prices expressed in Israeli shekels.⁴

The catalogue establishes product availability and published retail prices; it does not disclose completed transactions, profit margins or Tissot’s wholesale receipts.⁴

Tissot’s official store directory separately identifies COL TIME at 51 Eben Gvirol Street, Tel Aviv, as a retailer offering men’s and women’s Tissot watches, with in-store purchasing and specialist assistance.⁷

Distribution and after-sales operations

Roltime’s corporate description identifies an Israeli distribution and support infrastructure serving international consumer brands, including Tissot.³

Its after-sales page describes watch-repair and customer-support services within the Roltime group.⁵

These operations establish a local commercial service channel; the reviewed records do not establish a directly employed Tissot Israeli workforce.^{3, 5}

Employment and tax contribution

No public evidence identified of Tissot-specific employee numbers in Israel.

No public evidence identified of a Tissot-controlled Israeli payroll entity.

No public evidence identified of a tax registration, Israeli corporate income-tax payment or VAT amount attributable specifically to Tissot S.A.

Roltime’s description of its local importing, retail and after-sales business establishes commercial operations in the Israeli economy, but does not provide a Tissot-specific employment or tax breakdown.³

Market positioning

Tissot’s local retail presence and the dedicated Impress catalogue demonstrate that Israel is an active consumer market for Tissot watches as of October 2026.^{4, 16}

No public evidence identified of a Tissot corporate statement classifying Israel as a strategic growth market, regional headquarters or material revenue segment.

No public evidence identified of Tissot’s share of the Israeli watch market.

Occupied territories

No public evidence identified of a Tissot-operated office, warehouse, factory, service centre or retail boutique physically located in an Israeli settlement in the West Bank or occupied Golan Heights.

No public evidence identified of a specific Tissot distributor contract covering settlement-based retail locations.

No public evidence identified of a Tissot-specific Israeli military-base retail operation.

Post-July and post-November 2024 activity

Impress’s current commercial catalogue and publicly maintained Ayalon Mall boutique page establish continuing Tissot retail availability in October 2026, after 19 July 2024 and November 2024.^{4, 16}

Roltime’s continuing corporate representation of Tissot provides additional contemporaneous evidence of Israeli market activity after those dates.³

No public evidence identified establishing that this continuing activity involved settlements or Israeli military procurement.

On 27 October 2025, Israel’s Competition Authority announced its intention to impose financial penalties of approximately NIS 9.8 million on Roltime Ltd, Tissot’s official Israeli importer, and NIS 1.5 million on a senior company officer, subject to hearings. The proposed corporate penalty concerned five alleged violations of Israeli competition law relating to interference with parallel imports of Tissot, Samsonite and Tumi products. The officer’s proposed penalty concerned four alleged violations. These were preliminary enforcement findings and proposed administrative sanctions, rather than confirmed final penalties.^{17, 18}

According to the Competition Authority’s findings reported by Calcalist on 27 October 2025, Roltime reported to Tissot that parallel-imported Tissot watches were being sold through an Israeli shop and website at substantially discounted prices during 2023–2024. Roltime also arranged for a mystery shopper to photograph and purchase a watch at the competing retailer, subsequently forwarding the information to Tissot. The authority alleged that information and photographs supplied to overseas manufacturers could enable identification of parallel importers’ supply chains and potentially facilitate restrictions on competing imports. Competition Commissioner Michal Cohen characterised Roltime’s conduct as intended to harm, or at least capable of harming, competition from parallel imports. The reporting establishes allegations concerning communications with Tissot but does not establish that Tissot instructed Roltime to undertake these activities or subsequently restricted any supplier.^{17, 19}

As of 23 October 2026, the publicly reviewed reporting establishes the announcement of proposed penalties and the requirement for hearings, but does not establish that final penalties were imposed on Roltime or its senior officer. An August 2026 Globes review of Israeli parallel-import enforcement continued to describe Roltime’s approximately NIS 11.5 million combined exposure as proposed sanctions subject to a hearing, while distinguishing other cases in which penalties had been imposed. October 2025 legal analyses likewise characterised the Roltime measures as proposed. The final outcome, any revised penalty amounts, and whether the hearings had concluded could not be independently verified.^{18, 19, 20}

The Israeli Competition Authority’s public announcement of 27 October 2025 records proposed financial penalties of approximately NIS 9.8 million against Roltime Ltd for five alleged competition-law violations and approximately NIS 1.5 million against a senior company officer for four alleged violations. The arithmetic combined total is approximately NIS 11.3 million, correcting the existing audit’s reference to approximately NIS 11.5 million combined exposure in the paragraph beginning “As of 23 October 2026”. The individual penalty figures confirm the existing paragraph beginning “On 27 October 2025”. Both amounts were proposed sanctions subject to hearings, rather than final penalties. The authority’s announcement was located in official search results, but its full page could not be opened; the figures were independently corroborated against accessible contemporary legal and news reporting.^{18, 21}

Corporate Structure & Foundational Ties

Founding history

Tissot was founded in 1853 in Le Locle, Switzerland, by Charles-Félicien Tissot and Charles-Émile Tissot.²

The Fondation de la Haute Horlogerie identifies Tissot’s incorporation into the corporate grouping that became Swatch Group in 1983.²

The historical record therefore establishes a Swiss founding identity rather than an Israeli founding identity.²

Headquarters and legal domicile

Tissot’s public US privacy notice identifies its brand headquarters as Tissot Ltd, Chemin des Tourelles 17, 2400 Le Locle, Switzerland.¹³

Its UK privacy notice identifies Tissot S.A. at the same Swiss headquarters address and identifies The Swatch Group Ltd as its parent in Biel/Bienne, Switzerland.¹⁴

These disclosures establish the Swiss headquarters and parent-company relationship in the reviewed contemporary legal documentation.^{13, 14}

No public evidence identified of a current or historical headquarters in Israel.

Regional legal structure

Tissot’s Irish online sales conditions, effective January 2026, identify The Swatch Group (UK) Limited as the contracting seller for the relevant Irish ecommerce operations.²²

Earlier UK sales conditions identify The Swatch Group (UK) Ltd, Division Tissot, as the entity operating the Tissot online store in that jurisdiction.¹⁵

These records show that group operating companies can conduct Tissot sales in overseas markets without being separate Tissot-owned national manufacturers.^{15, 22}

The Israeli distributor records identify Roltime Group as the relevant local commercial intermediary, but do not establish that it is part of the Swatch Group corporate ownership structure.^{3, 4}

Israeli-Nexus Floor factual checks

Founded in Israel: No; the recorded founding was in Switzerland in 1853.²

Headquarters or principal management in Israel: No; published corporate documents identify Swiss headquarters.^{13, 14}

Israeli tax residence or Preferred Technology Enterprise status: no public evidence identified.

Beneficial ownership or control by Israeli capital: no public evidence identified.

Israeli-controlled operating subsidiaries acquired by Tissot: no public evidence identified.

Government and institutional relationships

No public evidence identified of Israeli government ownership of Tissot.

No public evidence identified of an Israeli government-appointed Tissot director.

No public evidence identified of Tissot being designated Israeli critical national infrastructure.

No public evidence identified of a Tissot-specific Israeli Ministry of Defence procurement contract.

Structural governance

No public evidence identified of an Israeli state golden share, charter restriction, shareholder-veto arrangement or comparable governance mechanism affecting Tissot.

No public evidence identified of an Israeli-state contractual right to appoint Tissot management.

Profit Repatriation & Economic Contribution

Israeli sales and local economic activity

Roltime and Impress identify an established commercial channel through which Tissot watches are imported, marketed and sold to Israeli customers.^{3, 4}

Impress publicly advertises Tissot products at retail prices denominated in Israeli shekels, demonstrating participation in the Israeli consumer watch market.⁴

The retailer’s public Tissot catalogue includes watches listed in the thousands of shekels, but these are advertised consumer prices rather than disclosed revenue or profit.⁴

The Tissot boutique at Ayalon Mall provides evidence of a physical consumer-sales channel associated with that market.¹⁶

Revenue attribution

No public evidence identified of Tissot’s annual Israeli revenue, unit sales, wholesale shipments or operating profit.

No public evidence identified of an audited Israel-specific financial segment for Tissot.

No public evidence identified of a reliable calculation of Tissot’s contribution to Israeli retail turnover.

Distribution of commercial receipts

Tissot’s corporate disclosures identify the Swiss parent and Swiss brand headquarters, while the Israeli distributor’s materials identify local importing, retail and after-sales activities.^{13, 14, 3}

These records establish a cross-border brand and distribution structure but do not disclose contractual transfer prices, royalties, wholesale margins or intra-group settlement arrangements.^{3, 13, 14}

No public evidence identified of the precise amount of Israeli consumer revenue retained by Roltime or remitted to Tissot or Swatch Group.

No public evidence identified of dividends transferred from a Tissot-owned Israeli subsidiary to the Swiss parent.

No public evidence identified of profits generated globally by Tissot flowing into Israel through an Israeli-domiciled controlling shareholder.

Local expenditure and employment effects

Roltime describes its Israeli import, retail, ecommerce, marketing and repair operations as part of its local commercial activities.^{3, 5}

The public records establish a commercial service infrastructure supporting international watch brands, but do not quantify the share attributable to Tissot.^{3, 5}

No public evidence identified of the value of Tissot-specific Israeli wages, local procurement, corporation tax or business-premises expenditure.

Economic ecosystem role

Impress’s catalogue and physical boutique establish a consumer-retail footprint for Tissot in Israel in October 2026.^{4, 16}

No public evidence identified of Tissot being designated a nationally significant Israeli employer, manufacturing anchor or critical infrastructure provider.

No public evidence identified of a Tissot-specific economic assessment assigning a measurable contribution to Israeli gross domestic product.

Settlement-related economic contribution

The UK government’s June 2026 guidance advises against commercial or financial activities in Israeli settlements and identifies legal and reputational risks associated with economic participation there.^{8, 9}

No public evidence identified quantifying Tissot revenue, retail sales, property interests or tax contributions arising specifically within Israeli settlements.

No public evidence identified of Tissot funding, purchasing from or directly providing commercial services to a named settlement enterprise.