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Swatch – Wikipedia
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The first collection of twelve Swatch models was introduced on 1 March 1983 in Zürich, Switzerland. Initially the price ranged from CHF 39.90 to CHF 49.90 but was standardized to CHF 50.00 in autumn of the same year. Sales targets were set to one million timepieces for 1983 and 2.5 million the year after. With an aggressive marketing campaign and relatively low price for a Swiss-made watch, it gained instant popularity in its home market. Compared to conventional watches, a Swatch was 80% cheaper to produce by fully automating assembly and reducing the number of parts from the usual 91 or more to 51 components, with no loss of accuracy.

Lebanese entrepreneur, Nicolas G. Hayek together with a group of Swiss investors took over a majority shareholding of Swatch during 1985 in the newly consolidated group under the name Societe Suisse de Microelectronique et d’Horlogerie, or SMH. He became Chairman of the board of directors, and CEO in 1986. Later he changed company’s name to Swatch Group.

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 assembly technology.