Swatch

Swatch was the Swiss industry's answer to its own near-death. By the early 1980s Japanese quartz had reduced Swiss watch exports catastrophically and employment had collapsed. Nicolas Hayek, brought in as a consultant to advise on liquidating the ASUAG and SSIH conglomerates, recommended the opposite: merge them and attack the low end.

The engineering that made it possible was radical. Ernst Thomke, Elmar Mock, and Jacques Müller designed a watch with fifty-one components instead of the usual ninety-odd, with the movement assembled directly into the injection-moulded case so the watch could not be opened or repaired. It could be made in Switzerland, by robots, for less than the Asian competition.

The first Swatches went on sale in 1983. They were cheap, plastic, colourful, and — critically — sold as fashion rather than as timekeeping. Buyers owned several. Artists including Keith Haring, Kiki Picasso, and later Vivienne Westwood designed editions, and some early models now trade for thousands.

Swatch sold over a hundred million watches within its first decade and financed the rescue of the entire Swiss industry. The Swatch Group that resulted owns Breguet, Blancpain, Omega, Longines, Tissot, Hamilton, and Glashütte Original, and remains the largest watch company in the world.

The MoonSwatch collaboration with Omega in 2022 caused queues around the world.

Swatch holds 22 models, from £60 to £130. Half cost less than £70, and a quarter less than £60. 1 of 22 is automatic. Prices are checked nightly against the retailers’ own feeds.

1983

The first Swatch launches with a 51-component movement.

1985

Keith Haring designs the first artist editions.

1992

Cumulative sales pass 100 million watches.

2022

The MoonSwatch collaboration with Omega sells out globally.