Swatch
Swatch is a Swiss brand of watches.The first collection of 12 Swatch models was introduced on March 1, 1983 in Zurich, Switzerland. Initially the price ranged from CHF 39.90 to CHF 49.90 but was standardized to CHF 50.- in autumn of the same year. Sales targets were set to 1 million timepieces 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 parts from a usual 91 or more to only 51 components.
In 1994, Swatch entered into a joint venture to produce the Smart car, but later withdrew.
Swatches enjoyed their peak popularity in the US during the mid-1990s, when a series of "Swatch Stores" were founded for the express purpose of selling Swatches. The Swatch Stores folded when the American economy experienced a downturn in the early 2000s.
In 1998, Swatch invented "Swatch Internet Time", which they intended to be used as a global timesystem.
