Swatch founder Nicolas Hayek dies

[Athlon]

Swatch founder Nicolas Hayek dies aged 82

Nicolas Hayek is credited with saving the Swiss watchmaking industry The founder of the Swiss watchmakers Swatch has died at the age of 82, the company has announced.

Nicolas Hayek, who was still chairman of the company, died unexpectedly of heart failure at work on Monday.

Mr Hayek has been widely credited with saving the Swiss watch industry when he founded Swatch in 1985.

It is now the world's biggest watchmaker and is expected to record sales of more than 6bn Swiss francs (£3.7bn; $5.5bn) this year.

"Nicolas Hayek's extraordinary vision enabled him to realise and ensure the sustainability of a strong watchmaking enterprise with high Swiss added value," the company said in a statement.

"He is rightly recognised as a leading entrepreneur in this country," the group said.

Swatch was formed from the merger of the Asuag and SSIH watch companies in 1985.

The cheaper plastic watches developed by the new group under the Swatch brand helped the industry to compete with the increase in cheap Japanese exports.

R.I.P.

[LukeBird]

A shame.

[Animal]

My first two analogue watches were Swatch, this is a real shame and a blow to the industry.

[sneijder]

Shame, I started with a Jellyfish, and last year got my Swatch grail, an unworn 'Kailua Diver'.



Once I had that, I sold the ones I'd collected but never wore, all in one hit.



I regret doing that now.

[madbadger]

sneijder said:

Shame, I started with a Jellyfish, and last year got my Swatch grail, an unworn 'Kailua Diver'.

Snap! I replaced a casio digital with one of these.

[glazbagun]

Wow, huge news! I wonder what now for Swatch group- though hadn't he resigned from most of his positions to concentrate on restoring the name of Breguet? RIP, man. Certainly be fewer mechanical watches around if not for him.

[mel]

Few people actually realise how important this is to the watch industry or quite how much the Swatch Group control the watch industry!

Swatch Group brands
Breguet, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Tiffany & Co., Longines, Rado, Union Glashütte, Tissot, ck watch & jewelry, Balmain, Certina, Mido, Hamilton, Swatch, Flik Flak, Endura and Tourbillon.

Swatch Group production companies
DYB, ETA, Frédéric Piguet, Valdar, Nivarox-FAR, Comadur, Rubattel et Weyermann, MOM Le Prélet, Deutsche Zifferblatt Manufaktur, Universo, Favre et Perret, Manufacture Ruedin, Lascor, Meco, Swatch Group Assembly, EM Microelectronic, Lasag, Renata, Microcomponents, Micro Crystal, Oscilloquartz and Swiss Timing.

[RDMcG]

I have a couple of odd ball swatches...one was produced for invitees to the opening of the Smart factory, (Hayek was the original idea person for the Smart:......only 2000 made:


and one given to every employee when Daimler and Chrysler merged:

[LukeBird]

Cool!

[Shuvi]

Hyperbole is easy, but here valid.

Hayek saved Swiss watch making. Few, except Rolex would have survived.

He was hated Back in the day for cheapening, 'Swiss Made'. Funny how things work out ain't it?

[RDMcG]

Shuvi said:

Hyperbole is easy, but here valid.

Hayek saved Swiss watch making. Few, except Rolex would have survived.

He was hated Back in the day for cheapening, 'Swiss Made'. Funny how things work out ain't it?

Absolutely!..he was pure play entrepreneur who entered the stuffy world of Swiss watchmaking, shook it to its core, and saved it. Ironic that his last prime job was as Chairman of Breguet, on of the more exclusive of the watchmakers.

[Mermaid]

A great visionary, at the right time & place.

Edited by Mermaid on Wednesday 30th June 14:00