The Hayek family's story is accompanied by the legendary experience and the turmoil of the times. Through the generations of descendants, only the name of the family became the symbol of today's industry. Before we talk about Hayek's legend, it is still necessary for us to bring the time back to the late 1970s and early 1980s, reminiscent of the history of clocks and watches, which people in the industry seem to be clichés.
Nicolas G. Hayek
Swiss watch "financial crisis"
The financial crisis is probably the most sensitive vocabulary of the day, and those who have a brief history of mechanical watches must know the tsunami that the Swiss watch industry had experienced. At the end of the 1970s, people in those days were feeling pandemic about Switzerland at the same time as the general public across the globe today.
Cheap Japanese quartz watches in the arrogance of Europe's pompous rapidly growing, sweeping the globe. When people recovered, the Swiss watch exports have dropped from 82 million to 31 million, nearly half of the watch business collapse, employees from the heyday of 19 million dropped to more than 30,000.
Now we do not need to be held accountable for the first quartz watch produced in Japan, Switzerland or the United States, but it is doubtless that the results of this physical study were destined for the fate of the timepiece The number of robbery. We often say that times make heroes. Only when crises come, will there be great people. They will lead the end of an era, opening a new chapter.
This time, the key to a new world of clocks fell into the hands of Nicolas G. Hayek.
Reflections on "Switzerland Son - in - law"
In fact, Hayek is not a native of Switzerland, but born in Beirut, Lebanon in 1928, met the beautiful Metzger girl, then became the Swiss son-in-law. In 1954, with a bank loan of 2,500 Swiss francs, he set up his own consulting firm to provide a revitalization plan for all the German companies that have been waiting to be laid off after World War II. During this period, he basically had no contact with the watch industry, and never thought of any connection with saving the Swiss watch industry. If there is no later period of crisis, perhaps his future is somewhere quite famous boss, and everyone enjoy the same stable and affluent family life. However, history often requires the opportunity to promote.
At the time of the precarious watch industry in Switzerland, seven banks headed by UBS jointly financed the acquisition of ASUAG and SSIH, the two largest watch groups, and merged them into SMH Watch Group in 1983. In this context, Hayek joined the SMH. It can be said that Hayek is on the verge of death, took up the responsibility to reproduce the brilliant Swiss watch. But in fact, Hayek's job is not good, he not only had never seen the clock and watch, but also face the tremendous pressure of quartz watch growing day by day.
It is perhaps the background that led Hayek to look at the industry with ideas from non-traditional Swiss watchmakers. He began to think about the reasons behind the failure of the Swiss watch. We do not know how many cigars we burned and how many cups of coffee we had when we looked at the streets outside our office that year, but we now see the result of his thinking, with only two words - the brand.
2012 London Olympics, the Swatch Group's Omega once again become the official timekeeping of the Olympic Games
Reconstruction from the brand began
With hundreds of years of history and craftsmanship of Swiss watches, why so fragile in front of the fledgling Japanese surface? Just a new technology to replace the inevitable?
In the case of locally-owned Coke, flooded by Coca-Cola, Hayek realized the true meaning: Our failure is not a matter of technology and price, but of ignoring our greatest strength - the brand. The biggest difference between Swiss watches and Japanese watches lies in the "Swiss watch has history," history will be the cornerstone of the reconstruction of the Swiss watch, only the brand can win the future.
The watch is not a chilly time machine for people. For example, a diving watch can dive to the depths of thousands of meters, but how many people who buy it really dive to that under the abyss? So, the person who bought the watch by no means to see the time, but a Proof of identity, a symbol of personality: I have the ability and taste to buy such a watch, and I love sports and nature. So people just as a watch to pass the personality and emotional products, like changing fashion, according to different moods and occasions have a second, third or even more watches. It is this intangible thing that watchmakers want to convey to consumers. By no means can electronic technology simply copy.
Services and products are quickly and easily copied and copied, only the brand can not be surpassed.
Figured out this, Hayek suddenly see. We could even imagine him jumping out of his chair suddenly one afternoon like a Newton smashed by Apple and excitedly shouting: "I know!" And then what Hayek needs to do, the goal is Very clear.
Swatch brings the second impact
In fact, now read through history, we can more easily see the situation at the time. At that time, the world sold roughly 500 million watches a year, while Swiss watches had zero market share at the low end and over 90% at the high end. The face of competition from Japan's low-end quartz watch, the first reaction of Swiss watches is to retreat. Because they appear to be unprofitable at the low end of the market, and they are sure that the low-cost, mass-produced watch on the assembly line will fail. In this way, after the retreat of the Swiss watch, the Japanese watch industry, which occupies the low-end market, has been upgraded to the mid-market. Then, the Swiss company, which previously occupied the mid-market, was ready to retreat.
Hayek saw one of the crisis, if let let go, eventually the Swiss watch will not be able to gain a foothold. He no longer concessions, the traditional form must have a broad market base, in each market need, have a strong, profitable, growing global brand. This means breaking the line and creating a brand (later Swatch) in the most unfamiliar low-end market to stabilize all traditional Swiss watches.
In 1985, Hayek formally established the Swatch Group after more than four years of restructuring of Asuag and SSIH. Swatch Group watchmaker not only created a new record of ultra-thin form, but also invented a new watchmaking process. When the first Swatch watch was placed on Hayek's table. He saw an unprecedented watch. Colorful, design avant-garde, entirely made of plastic and other synthetic materials, mechanical chassis, case and inlaid plate was incorporated into the three parts into a one-piece case, parts from 91 to 51.
Swatch 2012 London Olympic Games commemorative watch
Fifty days later, a huge 500-foot advertisement adorns a colorful, avant-garde plastic watch and a few words "Swatch, Made in Switzerland, 60 deutsche mark" on the tallest skyscraper in Frankfurt, Germany .
As long as 60 German marks can have a Swiss watch?
This explosive news immediately became the front page of the major media, the market was ignited the first time. Soon after, the same advertisement appeared in Ginza, Tokyo, Japan. The first year of listing, Swatch hit a record sales of 800,000 amazing results.
Swatch watch with Swiss quartz movement, made of synthetic materials, both waterproof and shockproof, accurate timing, the price should be outstanding and other advantages, especially for mass production, and have a wealth of color choices. Change the impression of the past Swiss watch, many people have more than one Swatch watch because they want to wear different colors at different times and different occasions watch. Swatch's strategy has led to many fascinated customers flocking to continue to buy new fashion watches. A businessman has 25 Swatch watches, every day he has to change a suit, tie, shirt and a Swatch watch. Is not this the realization of Hayek's thinking?
If the upsurge of quartz watch that year is the first global impact watch industry, then the birth of Swatch brought a second revolution in the impact.
Soon, large-scale production of quartz watches and electronic watches reduced itself to a disdainful low-end product, so the pursuit of it disappeared in an instant. People are re-aware of the preciousness of traditional mechanical watches. The value of the brand, finally at this moment fully demonstrated. To date, many brands even advertise with the phrase "We have never done a quartz watch." This shows Hayek's foresight.
face to the future
With this successful counterattack, Swiss watch rebuilt itself. Low-end products dominate the market, high-end products to create profits. Then Hayek began crazy staking streak, Omega, Longines, Tissot and a large number of Swiss watches have been snatched under the command, and gradually built up a perfect product line covering all levels. With four years to make Breguet brand back to the front line.
Now Swatch Group has become a business miracle - just 20 years, it has developed into an annual turnover of more than 4 billion Swiss francs, the world's largest watch empire.
Hayek, now relegated to the behind, remains the most intelligent and successful example of rapid success in the hearts of entrepreneurs all over the world. Hayek himself, the explanation for success is very simple, "We sell is a way of life, watches just happen to be its carrier only. Perhaps some people do not like our products, but he can refuse to personality, fashion Is freedom of life choice?
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