Swatch group brands6/30/2023 ![]() ![]() This was called the quartz crisis which occurred in the 1970s, hitting SSIH and ASUAG right in the face and bringing an uninvited guest- bankruptcy, to the party.Īs SSIH and ASUAG were making funeral arrangements, Nicholas Hayek and Ernst Thomke swooped in like Messiahs. But soon the shine of the exquisitely engineered Swiss watches was dimmed in the face of Japanese companies who brought with them inexpensive quartz watches. SSIH and ASUAG had a common thread of generating employment as well as calming the untamed waves of uncertainty that the 1920s brought along. On the other side, SSIH was a consequence of mating between Omega and Tissot which made it an idyllic miscellany of the luxury segment and the mid-range. Soon, ASUAG started acquiring companies one after the other, just like we gobble up dumplings. In a world with more black than white, the Swiss watchmaking industry set out to splatter some good and balm the wounds of the Great Depression in 1930, as they came up with ASUAG. Let’s go back a few years to unearth the ripple effects of the crippling economy that led to the birth, the downfall, and the imminent Phoenix-alike rise of the Swiss watchmakers. Swatch group subsidiaries include much-loved luxury brands like Harry Winston Inc, Breguet, Balmain, Calvin Klein Watches, Tissot, and Rado making it a one-stop-shop for people from all backgrounds and ages. This view led them to create quirky and avant-garde products as well as those that are technologically advanced and laced with years of watchmaking prowess. The brand strongly believes that beauty is just as much governed by what’s within as by what’s without. The Swatch Group is known for never having been swayed by the façade of this world.
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