Swatch

Founded

1983



Overview:
Swatch (stylized as swatch) is a Swiss watchmaker founded in 1983 by Nicolas Hayek and a subsidiary of The Swatch Group. The Swatch product line was developed as a response to the 'quartz crisis' of the 1970s and 1980s, in which Asian-made digital watches were competing against traditional European-made mechanical watches. The name Swatch is a contraction of 'second watch', as the watches were intended as casual, disposable accessories.

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Industries:
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Retail
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Fashion



Similar firms (based on pattern co-occurrence):
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2 shared patterns
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2 shared patterns
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2 shared patterns
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2 shared patterns
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3 shared patterns
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3 shared patterns
Business Model Patterns:

Aikido

How they do it: Swatch’s brand image mirrored off its name, a contraction of ”second watch”. Watches were intended as casual, disposable accessories – diametrically opposed to the mainstream industry’s approach. The Swatch product line was developed as a response to the ”quartz crisis” of the 1970s and 1980s, in which Asian-made digital watches were competing against traditional European-made mechanical watches.

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Direct Selling

How they do it: Swatch operates its own stores worldwide. They also sell directly via their website, Swatch.com.

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E-commerce

How they do it: Swatch sells directly via their website, Swatch.com, and in its retail stores.

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No Frills

How they do it: Swatch introduced timepieces that transformed how people interpret watches. On average, priced at $50 to $100, these watches are fashion accessoires and are kept as basic as possible.

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