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Tag Heuer. All Brands. By Info Watchmaster, 15 April The 70s and 80s were among the most eventful years in the entire watch industry. While the sudden emergence of affordable Japanese quartz watches almost brought the Swiss watch market to its knees, the formation of the Swatch Group , which is now the largest watchmaking group in the world , proved to be a successful countermeasure.
Not only in purely mathematical terms, but also in public opinion, the Swiss watch industry was able to achieve an enormous upswing thanks to the Swatch Group. The Swatch Group was thereby largely responsible for saving the Swiss watch industry. From the SSIH to the largest watch group in the world In order to understand the importance of the Swatch Group for the Swiss watch industry and its current position, it is helpful to become acquainted with the founding members and their history.
Tissot relocated its main operations to Russia before the Russian market collapsed during the October Revolution in It managed to reorganize until the global financial collapse in finally brought the entire watch industry to a standstill. This was the birth of the SSIH , which resulted in a wider product range, an increase in production and the preservation of both companies.
Omega concentrated on the luxury watch market, while Tissot produced for the mid-range price segment. In , the watch and movement manufacturer Lemania was also added to the holding. The knowledge acquired for the production of movements and complications was to help Omega develop its sports watches and paved the way for the Speedmaster series.
This group was comprised of the producers of raw movements and other watch components. In the s, these companies were faced with a problem of their own: the chablonnage. That was the name given to the export of Swiss raw movements and their designs and stencils for further manufacture abroad. In order to prevent other countries from simply exploiting and copying Swiss innovations, the manufacturers in the watch industry reorganized themselves as a cartel.
The formation of the cartel enabled the chablonnage to be controlled, although not completely stopped. This eventually led to a request for state intervention, which resulted in the creation of ASUAG through federal financial aid in This further strengthened the Swiss watch cartel. Shortly afterwards, the Swiss state declared that the export of blanks to be subject to authorization. In , the General Watch Co. This eliminated the previously prevalent competition between the small companies and allowed the two to grow steadily.
However, the emergence of quartz watches led to the quartz crisis in the s. Export figures of Swiss companies fell considerably and jobs were consequently cut. Along with the rest of the Swiss watch industry, the two supercorporations were faced with the prospect of collapse in Hayek for an expert opinion.
The first collection of Swatch watches was ultimately launched in Zurich in However, its history began in at ETA , where they were already working on the development of a low-cost quartz watch. The Swatch resulted from the collaboration between Nicolas Hayek and Ernst Thomke and quickly developed into a bestseller: In the sales target was set at 2.
The cheap quartz watch that once brought the watch industry to its knees was now their salvation. Swatch relied on fully automated production and reduced the number of components from 91 to only 51 components, which greatly increased the profit margin.
Following the success of the Swatch , the company turned its attention to the other brands, which had previously undergone logistical reforms, but still maintained their old brand images. The image of an old watchmaker patiently assembling watches by hand with a snowy Alpine backdrop is only partially accurate. It's part of a larger picture in which watch companies need to survive and compete, in some cases leading to products you like and in other cases, perhaps not. In the end, the group structures are a major perhaps necessary force in the ever-evolving watch industry, and understanding their influence might help you appreciate your favorite brand more.
First, don't be confused, as the maker of affordable plastic watches called Swatch is but one brand under the umbrella of the larger Swatch Group. The Swatch Group consists of many entities, from its consumer-facing watch brands to the companies that support them in various ways. As of , there are about 17 active brands under the Swatch Group producing watches and jewelry, and they span everything from affordable fashion accessories to esoteric, high-end horology.
These companies develop and build many of their own components, including movements. Their products range from luxury tool watches like Omega's Speedmaster to complicated and expensive artistic creations with the likes of tourbillons from Breguet. Entry-level luxury is represented by Hamilton , Tissot, Mido and Certina, using ETA movements, luxury materials like sapphire crystal and solid construction, all while staying reasonably affordable. Finally, the brands Swatch, Flik Flak and Calvin Klein can be considered makers of inexpensive "fashion watches.
In addition to the names above which you will find proudly emblazoned on watch dials, there are even more companies involved in various aspects of production behind the scenes. The most recognizable for watch nerds, at least are ETA, the prolific maker of movements found in watches from the Swatch Group brands and many more, and Nivarox, a company that specializes in producing escapement parts including hairsprings.
There are then many more companies that even hardcore watch enthusiasts haven't heard of producing the likes of cases, dials and hands, as well as companies that specialize in materials or specific parts such as crowns and pushers. Finally, there are segments for corporate management, distribution companies and even museums — it's a massive organization. The first quartz watch was introduced in , and by the s competition from the likes of Seiko with accurate, affordable, mass-produced, often plastic-cased quartz watches was set to kill the Swiss watch industry.
The solution was two-pronged: first, Switzerland's entire watch industry needed to be restructured for efficiency; and second, the Swiss needed to compete at the lower end of the price spectrum with an answer to cheap quartz watches "for the masses. The watch industry in Switzerland at that time consisted of hundreds of companies, but there were two groups that owned many of the prominent brands and the movement maker ETA. Merging these groups in would create the conglomerate that was eventually in renamed the Swatch Group.
It worked: this plan is often credited with "saving" the Swiss watch industry. Nicholas Hayek was the man largely responsible for it, and his son Nick Hayek Jr. Richemont's wares are more diverse than just watches and include a range of other luxury goods.
With prestigious and important names in horology, however, they are a major watch industry force, and the 11 Richemont watch brands are overall weighted toward the higher-end. Panerai , Jaeger-LeCoultre , IWC and Cartier are historic watchmakers that offer robust collections for each important watch genre in the mid-range luxury segment.
The Richemont company was founded in as a spinoff from diverse holdings owned by South African billionaire Anton Rupert. The real story of the Richemont group's watch brands, however, starts with Cartier. Then, in , the conglomerate acquired Les Manufactures Horologes, adding A. The Rupert family still controls Richemont with Anton's son Johann as the current chairman.
There are around 75 brands under its diverse umbrella producing everything from whisky to leather shoes and bags to yachts and much more , and only a handful of watchmakers — but they are important, highly visible watchmakers.
Watches at LVMH can be best understood in terms of two groups: there are companies that are primarily watchmakers, and companies that are mostly known for other luxury goods but which are also important players in the watch industry.
Those specializing in watches are Hublot , Zenith and TAG Heuer , each of which is positioned at a different price point but which together reflect direction from the corporate parent with similar approaches more on that below. Broadly speaking, Hublot is focused more on the higher-end; Zenith competes strongly in the mid-range luxury segment; and TAG Heuer's average price point tends to be lower than Zenith's but above "entry-level luxury.
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