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The name "Swatch" is often misconstrued as a contraction of the words "Swiss Watch", but Nicholas G. Hayek, the Chairman of the Swatch Group, affirms that the original contraction was "Second Watch" -- the new watch was introduced with a new concept of watches as casual, fun, and relatively disposable accessories. The first Collection of 12 Swatch models was introduced on March 1 , 1983 in Zürich , Switzerland . Initially the price ranged from CHF 39.90 to CHF 49.90 but was standardized to CHF 50.00 in Autumn of the same Year . Sales targets were set to 1 million Timepiece s for 1983 and 2.5 million the year after. With an aggressive marketing campaign and a very resonable price for a Swiss-made watch, it gained instant popularity in its home market. Compared to conventional watches, a Swatch was 80% cheaper to produce by fully automating assembly and reducing the number of parts from the usual 91 or more to only 51 components. Swatches enjoyed their peak popularity in the United States during the mid-1980s, when a series of "Swatch Stores" were founded for the express purpose of selling Swatches. During this same time, Swatch introduced the idea of partnering with noted artists, including Keith Haring and others. Artist watches gave a new cachet to what had previously been a trendy youth article. Although sales of Swatch watches are now considerably lower than in previous years, the Swatch Group remains the world's largest watch company, and the Group has accelerated its acquisition of Swiss luxury brands in recent years. These brands include: Breguet , Blancpain , Jaquet Droz , Glashütte-Original , Léon Hatot , Omega , Rado , Longines , Tissot , Calvin Klein , Certina , Mido , Pierre Bal-main , Hamilton , Flik Flak and Endura . Swatch itself has also diversified its offerings considerably, and the company now sells more than a dozen different types of watches, including metal-bodied watches (the Irony series), diving watches (the Scuba series), thin and flat bodied watches (the Skin family) and even an Internet-connected watch that can download stock quotes, news headlines, weather reports, and other data (the Papparazzi series). They have now become fashionable objects, generating specialised models (the "Flik-Flak" for children, semi-automatic movements, and even Diamond -decorated swatches). In December 2005, Swatch has launched a new marketing stunt in Switzerland (to be launched in other countries) which is all about wearing the Swatch on the right wrist. Normally a watch would be worn on the left wrist; the main reason for this was because a watch needed to be wound up every day in order to keep running. For some time, most watches have been battery operated and don't use the winding mechanism. The slogan for this marketing stunt is "''Swatch, wear it right, times have changed. It feels better and it looks better!''". The meaning of this idea is that people can now wear their Swatch watch on the right wrist to be different than other people with other watches. Swatch was official timekeeper of 1996 Summer Olympics , 2000 Summer Olympics and 2004 Summer Olympics . SEE ALSO EXTERNAL LINKS |
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