Log in / create account

Endpoint: Swatch AG



created on: 21/06/2022
by: Lo55o (12443)
 
 

Company properties

General info :
Swatch AG is a company located in Biel/Bienne, Switzerland.
It is the manufacturer of watches of the Swatch brand.

The company was founded in 1983 by Ernst Thomke, Elmar Mock, and Jacques Müller. It is a subsidiary of The Swatch Group Ltd.
The Swatch product line was developed as a response to the "quartz crisis" of the 1970s and 1980s, in which inexpensive, battery-powered, quartz-regulated watches were competing against more established European watchmakers, focused on artisanal craftsmanship producing mostly mechanical watches.

The name Swatch is a contraction of "second watch", as the watches were intended as casual, disposable accessories.

The first collection of twelve Swatch models was introduced on 1 March 1983 in Zürich, Switzerland. Initially the price ranged from CHF 39.90 to CHF 49.90 but was standardized to CHF 50.00 in autumn of the same year. Sales targets were set to one million timepieces for 1983 and 2.5 million the year after. With an aggressive marketing campaign and relatively low price for a Swiss-made watch, it gained instant popularity in its home market.

Lebanese entrepreneur Nicolas G. Hayek, together with a group of Swiss investors, took over a majority shareholding of Swatch during 1985 in the newly consolidated group under the name Societe Suisse de Microelectronique et d'Horlogerie, or SMH. He became chairman of the board of directors, and CEO in 1986. Later he changed company's name to Swatch Group.
Relations :
Subsidiary of : The Swatch Group Ltd.
This endpoint is approved in the database from previous submissions.
Uses the brand name : Swatch
This endpoint is approved in the database from previous submissions.
Websites
Source :
Copied Wikipedia parts under license :
ENA's

Company

(2 items)

Watches

(5 items)

Item number : 49660

Submitted by : Lo55o (12443)
on : 21/06/2022