The Swatch Group Ltd. , which is based out of Beil, Switzerland, is the world largest watch company. It was estimated that in 1998, it has produced about 119 million watches with consecutive yearly sales of over 3. 2 billion Swiss francs. The Swatch group has produce the product all over 50 locations throughout the world, including France, Germany, Italy, USA, the Virgin Islands, Thailand, Malaysia, and China, with its main facility in Switzerland. Since the beginning of the Swatch Group, it has become synonymous with “durable, emotional consumer products of high quality.
When the first Swatch watch hit the streets of Europe in the year 1983, the company had a huge obstacle to overcome a saturated market. However, the group decided to pay more attention to quality as well as the buying power of teenagers during the early mid 80’s. Because of the fashion, the watch that has produced at that time has never stopped producing. In the year 1986 also the start of the spectacular re-emergence of the Omega brand, followed in later years by Longines, Rado and Tissot.
The Swatch Group has given special interest to other areas of technology such as microelectronics (low-voltage, low-power), micromechanics, and even for the automobile industry. The group is also active in the entertainment business. Swatch is also the world’s leader in production of sports’ timers that are used to sponsor for all major sporting events as well as all the Olympic Games. Swatch has a promising future in all of these venues, but the company insists on putting its emphasis on its one true passion – time management.