7 THE SWATCH

Somewhat ironically, it was a cheap quartz watch that saved Swiss watchmaking from the threat posed by cheap quartz watches. Launched in 1983 by entrepreneur Nicolas Hayek, Swatch’s inexpensive plastic timepieces were designed to rekindle interest in analog watches (which had been largely superseded by digital watches), win back the entry-level market that had been gobbled up by Asian competitors, and re-assert Swiss watchmaking’s bona fides. An instant hit worldwide, Hayek channeled funds from the huge sales of cheap’n’cheerful Swatch watches back into prestigious traditional marques including Omega, Blancpain and Breguet, breathing new life into the watch Swiss industry.