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The Swatch Group – The Swiss Legend

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The Swatch Group of Switzerland is the biggest watch manufacturer in the world with their ownership of a handful of the most prestigious watch brands.

Company Profile

Founded: 1983
Founder: Nicolas Hayek
Headquarters: Biel, Switzerland
Main Products: Watches
Revenue: CHF 5.941 billion
Website: www.swatchgroup.com

Birth of a Legend

The Swatch Group is a Swiss company founded by Nicholas Hayek, from Lebanon. The company was first established in 1983, through the coming together of two other Swiss watch companies that were formed during the depression era in the 1930’s; ASUAG and SSIH.

Mr. Hayek was summoned to oversee liquidation of The Swiss watch manufacturing company. His focus was to help the company remain competitive against Japanese watch manufactures.

After five years, the companies merged; with the guidelines of the merger being defined by Nicolas Hayek. Mr. Hayek took over a majority share in the company along with a group of Swiss investors. There after, he became the CEO of the newly formed company.

In 1998 the company took on the new name ‘The Swatch Group’ in recognition of its product the swatch watch and quickly became the most valuable watch making company in the world.

The Swatch Group   The Swiss Legend

Business Activities

This company is very active in the manufacturing and sales of expertly made time pieces and the manufacturing of the necessary components.

It has become the largest watch manufacturer in the world ,with nineteen watch brands ; such as Tiffany & Co., Calvin Klein, Endure, Flik Flak, Tissot, Longines, Certine, Mido, Omega SA, Pierre Bal-main, Hamilton, Jaquet Droz, Breguet, Blancpain, Glashutte Original, Union Glashutte Leon Hatot and Rado. The group has gross sales recorded at 5.94 billion in the year 2007.

The Swatch Group owns several companies such as; Asulab, EM Microelectronic – Marin, Oscilloquartz SA, ETA SA, Valjoux, F.Piguet and Comadur.

Together with subsidiaries such as Renata, LASAG, SMH assembly,Habillage,Swiss timing, CDNP, ICP, Nivarox-FAR, Omega Electronics, SMH automobile, Columna, SMH Real Estate, Microcrystal and others the group produces product components, systems and microelectronics.

Some of the components produced and designed by the group are; smart cards, miniature low powered crystals, frequency control products, low voltage mixed – signal integrated circuits, micro batteries, GPS based synchronization and products for wired and wireless telecommunications infrastructure and other components.

What’s in Store for the Future

The Swatch Group intends to continue to be the leader in quality manufactured time pieces by continuing to invent and produce watches that meet the demands of technology and today’s style.

Among the group’s inventions are ‘The Swatch Internet Time’ in 1998 and the smart watch ‘Paparazzi’ in 2004, and the establishment of a Watchmaker School in Secaucus, New Jersey. Also, in 1998 the group planned to unveil a swatch watch with a built-in portable phone.

The invention of the smart car is another venture in which Swatch teamed up with Daimler AG to produce a car with swatch design features called the ‘Smart Car’ along with the Swatch Telecom and Swatch Access.

Presently, the group has established its presence in jewelry products, high technology computer components, internet and telecommunications, in the automotive and electronic industries, and medical applications.

The Swatch Group seeks to maintain their success by forming strong alliances with other companies that possess manufacturing and technological capabilities. By Investing in research and development the company will continue to lead the way in design and manufacturing.