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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. In 1982, Swatch was conceived and it was introduced to the market in Switzerland in March 1983.
Founded by Nicolas. G Hayek, Swatch was originally intended to re-capture entry level market share lost by Swiss manufacturers during the aggressive growth of Japanese companies such as Seiko in the 1960s and 1970s, and to re-popularize analog watches at a time when digital watches had achieved wide popularity.
The launch of the new Swatch brand in 1983 was marked by bold new styling and design. The quartz watch was redesigned for manufacturing efficiency and fewer parts. This combination of marketing and manufacturing expertise restored Switzerland as a major player in the world wristwatch market. Synthetic materials were used for the watch cases as well as a new ultra-sonic welding process and the assembly technology. The number of components was reduced from 91 or more to 51, with no loss of accuracy.