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Brand Stories
In 1983, a colourful plastic quartz watch pulled the entire country back from the brink.
By 1981 the Swiss watch industry had lost 60,000 jobs to the quartz crisis. Japanese quartz was cheaper, more accurate and faster to produce. Swiss exports were halving every two years.
Nicolas Hayek's solution: the Swatch. Plastic case, quartz module, 51 components (vs 150 in a traditional watch), assembled by machine in seconds. Launched March 1983 at CHF 50.
By 1992, 100 million Swatches had been sold. Profits funded Hayek's acquisitions of Omega, Longines, Tissot, Blancpain — assembling what became the Swatch Group, the world's largest watchmaker by units (>$8B revenue today).
Without Swatch, there's no modern Omega. It's that simple.
