Swatch is a brand name for a line of wrist watches from the Swatch Group, a Swiss conglomerate with vertical control of the production of Swiss watches and related products. The biggest watch manufacturer in the world.
The first meaning of the name "Swatch" was "Second Watch" -- because the new watch was introduced with a new concept of watches as casual, fun, and relatively disposable accessories. However Franz Sprecher conceived it as the contraction of Swiss (Made) Watch: "S'Watch", soon became "Swatch" as it is today perceived worldwide.
It was formed in 1983 through the merging of the two Swiss watch manufacturers ASUAG and SSIH, and took its present name in 1998 (formerly SMH Swiss Corporation for Microelectronics and Watchmaking Industries Ltd). The company is led by G. Nicolas (Nick) Hayek, Jr., son of the co-founder and current chairman Nicolas Hayek.
In 1982, Swatch was conceived and it was introduced to the market in Switzerland in March 1983. The first collection of twelve Swatch models was introduced on March 1, 1983 in Zürich, Switzerland.
Headquartered in Biel, Switzerland.
