Some call this the Quartz Revolution, but in Switzerland it's known as the Quartz Crisis. The first quartz watch was introduced in 1969, and by the 1980s competition from the likes of Seiko with accurate, affordable, mass-produced, often plastic-cased quartz watches was set to kill the Swiss watch industry. Finally, there are segments for corporate management, distribution companies and even museums - it's a massive organization. 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. 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. 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. Finally, the brands Swatch, Flik Flak and Calvin Klein can be considered makers of inexpensive "fashion watches." 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.
The mid-tier brands, Longines, Rado and Union Glashütte, use sourced movements from sister company ETA but sometimes develop their own technology and offer a high level of fit and finish with refined details. Their products range from luxury tool watches like Omega's Speedmaster to complicated and expensive artistic creations with the likes of tourbillons from Breguet. These companies develop and build many of their own components, including movements. Unlike Richemont and LVMH, the Swatch Group's products are primarily watches.Īt the upper tiers are Breguet, Harry Winston, Blancpain, Jaquet Droz, Glashütte Original and Omega. As of 2020, 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. The Swatch Group consists of many entities, from its consumer-facing watch brands to the companies that support them in various ways. At the same time, there are major benefits to joining a group, including shared resources.įirst, 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. Many of the brands that belong to groups today could be considered lucky for having survived the Quartz Crisis, as many others didn't. If a watchmaker is in financial trouble due to ineffective management, a big group stepping in with capital and new management can save it from disappearing completely. This can happen and is sometimes felt in marketing and product development, but each situation is unique: the degree to which a brand retains its independence depends upon a number of factors. The company might be restricted to the particular market segment that benefits the parent company's strategy. Some watch fans worry that when previously independent brands are acquired it'll mean a top-down, profit-driven new approach - and the end of the brand's individual vision and creativity. What does it mean when you buy a Hamilton Khaki Field or an Omega Speedmaster - are you buying something from that brand itself, or from a faceless conglomerate? Though there are complicated business relationships involved, it's possible to understand a large chunk of the watch industry by looking at its major groups: The Swatch Group, Richemont and LVMH. Understanding how Swiss and other watch companies are related and the resources they share will help put your favorite brand into perspective next time you buy a watch. There are exceptions, but most historic Swiss watch brands you can probably think of belong to one of a few big corporate groups.
Family-owned watch companies run by successive generations of artisan watchmakers are rare today.