Smart had a difficult birth that foreshadowed a long struggle for viability.
In the early 1980s, the traditional Swiss watchmaking industry was in turmoil because of an onslaught of cheap and highly accurate quartz digital watches manufactured in the Far East. This forced the two largest Swiss watchmakers, ASUAG and SSIH(1), both of which were insolvent, into a defensive merger in 1983, forming what would become the Swatch Group after a takeover of the original Swatch company, founded in the same year by Ernst Thomke, Elmar Mock and Jacques Müller.
Swatch had been launched with a business plan to fight back against the digital invasion and regain control of the market in everyday watches. The plan was simple but brilliant: to turn the wristwatch into a relatively cheap fashion item that would be produced in a wide range of colours and styles, thereby expanding the market enormously by enticing customers to Continue reading “Not Smart Enough (Part One)”