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Swatch shares drop as Swiss watchmaker forced to apologise for racist ad

Swiss watchmaker Swatch apologised Monday for an ad campaign that upset consumers in China and elsewhere and said it had “immediately removed all related materials worldwide.”

In an image for the Swatch Essentials collection, an Asian male model is shown pulling the edges of his eyelids upward and backward with his fingers—a gesture seen as derogatory and racist, Swiss public broadcaster SRF reported.

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