Under the leadership of Nicholas Hayek, the Swatch Group, the maker of Swatch Clock is rife with revitalization of the Swiss watch industry, credited by a single set of brands addressing all segments of the global watch market. New opportunities beyond the watch market recently (eg telecommunications, automobiles) explored, but they did not live up to expectations. In October 1998, the Swatch Group Swatch Internet Time (SIT) started. SIT divides each day into 1000 “beats” corresponds … Read more »

Under the leadership of Nicholas Hayek, the Swatch Group, the maker of Swatch Clock is rife with revitalization of the Swiss watch industry, credited by a single set of brands addressing all segments of the global watch market. New opportunities beyond the watch market recently (eg telecommunications, automobiles) explored, but they did not live up to expectations. In October 1998, the Swatch Group Swatch Internet Time (SIT) started. SIT divides each day into 1000 “beats” is equivalent to 86.4 seconds respectively. Each day began with 000 @ (@ was the abbreviation for strikes) and had lunch @ 500 A new Meridian was that passed on Swatch headquarters in Biel, Switzerland, so Biel Mean Time (BMT), the official reference for Internet Time. Many questioned the motive behind Swatch SIT. Some believed that the inclusion of SIT was just a way to energize the Swatch brand in markets such as the United States, where sales, the Swatch image had suffered. And another question whether the concept of SIT would catch on.
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from
Luc Wathieu,
Carin-Isabel Knoop,
Cate Reavis
Source: Harvard Business School
18 pages.
Publication Date: Sep 27, 1999. Prod #: 500014-PDF-ENG
Swatch Group: On Internet Time HBR case solution