Swiss watchmaker Swatch has apologised and pulled an ad featuring a model pulling the corners of his eyes, after the image prompted uproar among Chinese social media users.
Critics said the pose resembled the racist "slanted eye" historically used to mock Asians.
Calls for a boycott of Swatch products grew on Chinese social media as the ad went viral.
Swatch said it had "taken note of the recent concerns regarding the portrayal of a model".
"We sincerely apologize for any distress or misunderstanding this may have caused," the company said in a statement on Saturday.
"We treat this matter with the utmost importance and have immediately removed all related materials worldwide."
But the apology failed to appease critics.
Swatch is "only afraid for its profits," one Weibo user said. "You can apologise, but I will not forgive."
"They make money from us and still dare to discriminate against Chinese people. We would be spineless if we don't boycott it out of China," another Weibo user said.
Swatch gets around 27% of its revenue from China, Hong Kong and Macau - though it has seen declining sales in China amid the country's economic slowdown, according to Reuters news agency.
The company also produces Omega, Longines and Tissot watches.
In recent years Chinese consumers have organised boycotts against perceived insults to their culture or threats to national interests.
In 2021 there was a widespread Chinese boycott against global fashion brands like H&M, Nike and Adidas after they expressed concern over alleged human rights abuses in Xinjiang province.
Last year, some tried to boycott Japanese clothing store Uniqlo after the company said it did not source cotton from Xinjiang.
Italian fashion house Dolce & Gabbana was also the target of such a boycott in 2018, after it posted videos showing a Chinese model using chopsticks clumsily to eat Italian food. Its products were pulled from Chinese e-commerce sites and the brand cancelled its Shanghai fashion show as critics said the ad depicted Chinese women in a stereotypical and racist way.