Swatch

Swatch Group, a multinational company listed on the Swiss Leader Index, emerged from the merger in 1983 of two major Swiss watchmaking groups: ASUAG (founded in 1931, including Longines and Rado) and SSIH (founded in 1930, including Omega, Tissot, and Lemania Watch). With its headquarters in Bienne, Switzerland, Swatch Group is the world’s largest watchmaking company, with 160 factories supplying movements to competitors through its subsidiary ETA, accounting for 19.6% of global sales in the industry in 2015. Originally named Société de Microélectronique et d’Horlogerie (SMH) after the merger, the holding was later renamed “The Swatch Group” in 1998 due to the success of the Swatch plastic watch. Founded by Nicolas Hayek, the group’s strategic independence and financial strength are highlighted, with Nick Hayek succeeding his father after his passing in 2010. The group’s pivotal role in the Swiss watch industry’s revival post the quartz crisis in the 1970s is exemplified by the creation of the Swatch in the 1980s. Swatch Group’s history reflects a continuous commitment to innovation, strategic mergers, and financial prudence, demonstrated by the acquisition of Breguet in 1999. In 2020, amid the Coronavirus pandemic, the group announced a 30% reduction in the 2019 dividend.