Swatch

Swatch was developed in the early 1980s under ETA SA CEO Ernst Thomke, with engineers Elmar Mock and Jacques Müller. The first collection of twelve models launched on March 1, 1983, in Zürich, priced at CHF 39.90-49.90. Lebanese-Swiss entrepreneur Nicolas G. Hayek took majority control in 1985, forming Société Suisse de Microélectronique et d'Horlogerie (SMH). Hayek became chairman and CEO in 1986, later renaming the parent company The Swatch Group in 1998. The brand revolutionized Swiss watchmaking by proving Switzerland could compete with Asian quartz watches through innovative manufacturing-using synthetic materials, ultrasonic welding, and reducing components from 91 to 51 parts. This rescued the Swiss watch industry from near-collapse during the quartz crisis.