With the emerging brands of luxury goods, it is tough competition among companies that produce such products. Highly in demand today, owning an exclusive brand somehow define a person’s social status. It is a battlefield in the market of high-end products because of the continuous change in the fashion industry.
There are known companies that own some brands that are only producing luxury goods. Some of them are the Richmont Group, Moët Hennessy Louis Vuitton, Kering, Chanel Limited, Swatch Group, and much more to mention. But when it comes to luxury brands of watches and jewelry, Swatch Group is surely on the top list.
History of the Swatch Group
Swatch Group is a Swiss-based company founded by Nicolas Hayek in 1983. Considered one of the top companies worldwide, Swatch Group has an estimated net worth of 758 million Swiss francs (CHF). This company started when the watchmaker Tissot and Omega decided to join forces.
In 1970, there was a crisis for the watchmaker due to the rising popularity of the more high-tech watches giving lower prices to its users. The demand for quartz watches during this time has lowered, and people are no longer looking for them. With the initiative of Nicolas Hayek, the two financially troubled watchmakers Allgemeine Gesellschaft der Schweizerischen Uhrenindustrie (ASUAG) and Société Suisse pour l’Industrie Horlogère (SSIH) were re-established again, and so they start of Swatch Group.
Through the years, Swatch Group is continually dominating the world market of luxury brands. The crisis that these watchmakers faced in the 70s shows how they conquered it and pave the way for quality products that the people are enjoying right now. There are a handful of subsidiaries that are giving pride to this company. In terms of luxury wristwatches, there is the Glashutte Original, Omega, Longines, Harry Winston, Blancpain, and Jaquet Droz.
Glashütte came from Germany and originated in the year 1845 by Ferdinand Adolph Lange. As their caption goes Always moving forward, they mainly focus on following the trend and highlight their newest product, which is always on the top list of luxury watches.
Since 2004, Glashutte Original has been the official partner of the Dresden Music Festival, held annually in Germany. With this partnership, the brand established more audiences for the event and has a thousand attendees every year.
Harry Winston is known for its classy watches, it has made its name famous for its product collection of different kinds. One of their popular collections is the Premier Collection, where they showcase mostly luxury automatic watches.
Originally from New York in 1932, Harry Winston established this jewelry and watchmaking brand, and known as the King of Diamond and Jewelers of the Stars.
Louis Brandt started this watchmaking business in the year 1848 and originated in Switzerland. Omega was one of the first watchmaking companies to produce a waterproof watch with 14k carat gold. Other than this, one of their famous models is the Constellation. Aside from this design, it is also one of the most expensive watches.
Exact time for life, it is their slogan since 1931. Being one of the pioneers in the watch industry, this slogan suits the company to continue striving in the market despite competitors.
Founded by Auguste Agassiz in 1832, Longines became famous for its exemplary models of watches. With a lot of choices from different kinds of collections, you can choose from this collection depending on the occasion.
Their bestseller wristwatches La Grande Classique de Longines is well-known for its simple yet classy look. Longines is also considered as a luxury watch but unlike other brands, it is targeted more on the lower market.
Charles-Félicien Tissot, together with his son Charles-Émile Tissot started this brand in 1853. Tissot and Omega were the first brands to emerge before they became a subsidiary of Swatch Group. Tissot is likely to be on the same level as Longines, considered as a luxury brand but has a lower price compared to others.
Tissot offered an exclusive watch for the Lakers fans after they won the 2020 NBA Championship. Having the Lakers logo at the back of its wristwatch surely captivated the fans and made their brand famous even more.
If there is a luxury watch for adults, there is also an exclusive watch that caters to the kids.
A special brand under Swatch Group is the Flik Flak established in 1987, which targeted younger audiences. This brand is known for making kids’ classy watches.
Swatch Group continually strives to venture into the market of luxury watches but at the same time never forgetting the quality of their products.