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Swatch

Switzerland
Quick facts
Year business began:
1983
Franchising since:
1996
Estimated number of units:
3,371
Swatch is one of the most recognizable brands when it comes to jewelled watches. Swatch targets people of all ages. In the 1970s the Swiss watch market was put under serious threat because the market became flooded with watches from Asia. In 1983, the founder of Swatch, Nicolas G.Hayek, introduced the 'second watch' which was an affordable Swiss watch made from plastic.

Franchising System
The Swiss company first opened a store in 1996 and was in such demand that they began franchising in the same year. Today there are 3,371 exclusive franchise stores throughout the world.

In 2006, Swatch celebrated the production of its 333 millionth watch. Swatch remains one of the biggest brands of watches in the world.

Corporate Social Responsibility

Creating Communities

The Swatch Club began as a way of bringing watch collectors together but now, as time has moved on and the brand has developed, The Swatch Club creates a worldwide community of people with similar interests.

Giving Back

In Peru, Swatch supports the Proyecto Sofia Mulanovich which developed Peruvian surfing through a three year programme that focuses on environmental protection, healthy living and fair play.

During Expo 2015, Swatch supported The Treedom Project which aimed to make Africa greener by planting trees. The goal was to create benefits for the environment while supporting farmers who plant the trees.

The Swatch Group Environmental Policy focuses on conservation of the natural environment.

The Swatch Group Social Policy includes employment, training for employees as well as creating good working conditions.

News

Swatch is determined not to see Apple and android companies taking over the market. Instead, Swatch prepares to take those companies on because it is introducing a smartwatch in 2018 which is said to have a battery life that will outlast other smartwatches in the market.

The company also came up with a new innovation called Swatch X You which is an online factory that allows you to pick what face, brand, colour, and extras you want for you watch. Swatch partnered with Emersya to create the experience online allowing you to rotate the watch in three dimensions, giving a real realistic perspective of what the product will look like.


Sources
;https://www.swatch.com/en_gb/explore/history/
https://www.scribd.com/doc/43483732/Swatch-global-strategy
http://www.arabianbusiness.com/swatch-takes-on-google-apple-677962.html
https://techcrunch.com/2017/06/20/swatch-launches-swatch-x-you-a-custom-design-system-for-true-watchanistas/

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