ITS ABOUT TIME FOR HISTORY!

Swatch was a rare phenomenon that transcended the watch industry in the early 80’s, and is the very reason why we have a Swiss watch industry today. Once seen as disposable inexpensive art on the wrist became engraved as a huge piece of pop culture today. In the eighties with the revolution of quartz battery driven watches, there was really no Swiss watch industry. People were wearing cheap quartz watches made in Japan. Swatch came in and sparingly emerged showing that a reliable Swiss watch could be made efficiently and cost effective blowing out the Japanese quartz movements and starting a hysteria that has influenced many alike.

The Swatch Group is majority owned by Nicholas Hayek which along with Swatch owns Omega, Tissot, Longines, Hamilton, Rado, Breguet, Blancpain, Jaquet-Droz and German manufacturer Glasshutte Original. They also own the dial and case companies which manufacture close to 80% of the world dials and watch cases. In addition they own Movement Companies, ETA,Valjoux and Lemania. This Swiss Company formed in 1983 is the biggest watch manufacturer in the world.

This company employees approximately 24,000 people worldwide with sales in 2007 reaching a staggering 6 billion dollars. As of late because of the rule governed by Swiss courts this company has a monopoly on the watch industry and all companies which rely on the Swatch Group for movements can no longer purchase movements from The Swatch Group and must become self reliant as of 2010 which will force watch companies to develop their own movements which will be very expensive to produce hence driving up the price of basically all watch companies.

So the next time you think of Swatch Group even though at times seems like an evil empire, just think how they started with a plastic $40 watch and now has become the leader of the watch industry which is responsible for saving an art and passion which fuels so many people today!