Celebrating 30 years of Swatch watches

Wristwatches were sometimes a status symbol and always functional but rarely a pop-culture fashion statement until a Swiss company launched the Swatch brand of affordable, fun plastic watches in 1983--changing the industry forever. This shift in strategy was so critical to the company's success that it changed its name to Swatch in 1998.

Today the Swatch Group is the world's largest maker of wristwatches--and it's celebrating the 30th anniversary of the original Swatch this year. The company's brands actually cover every price point from the low end (Swatch and Flik Flak) to the very high end (Omega, Breguet, Tiffany etc). You may remember that Omega was one of the official Olympics sponsors in 2012, a brand-building move that reinforced its reputation for precision.

Swatch's luxury brands sell well all over the planet, including in China and other markets where rising disposable incomes enable status-conscious consumers to display their affluence on their wrists. Its Swatch fashion watches are also increasing in popularity in China and elsewhere, thanks to ongoing style cycles.

Despite competition from low-price, Chinese-made wristwatches, Swatch continues to grow and prosper by emphasising brand value and by controlling much of its supply chain. The company is a global supplier of the movements that make wristwatches tick and the balance springs that regulate wristwatches. Because Swatch wants to reduce the quantities of components it sells to non-Swatch companies, competitors such as LVMH are looking to acquire component manufacturers so they, too, can control their supply chains.

In this 30th anniversary year, watch for advertising and in-store materials promoting Swatch's celebrations and the roots of its fashion heritage.