Nicolas G. Hayek and the Swiss watch industry: Business leadership over two decades
Nicolas G. Hayek, first CEO and later Chairman of the Swatch Group, is widely known as the savior of the Swiss watch industry. By commercializing the Swatch, he created the necessary breakthrough to revive the industry and push the company forward. This case deals with the CEO’s outstanding leadership over two decades. It explains in detail the business developments of the Swatch Group, from Hayek’s arrival at the company in the early 1980s to today. Many think of the Swatch Group as a producer of cheap, plastic watches with good advertising. But by 2005, the Swatch Group was only one of the Group’s 18 brands. The Group owned some of the best known brands in the industry, including Blancpain, Brequet, Longines and Omega. At the same time, the Group was also moving actively into retailing. Financially, the year 2005 was the Group’s best year profit-wise.
The case offers a unique learning experience, as it combines both top level business leadership and strategy issues. It highlights how Hayek kept up with the changes in the business and how this CEO maintained his success over so many years. The storyline is divided into three phases to facilitate in-class discussion. The first phase deals with the transformation itself, followed by the move into high-end brands and retailing. For each of these phases, the readers will examine the management style and principles.
Consumer Goods, Clocks and Watches
1980-2005
Cranfield University
Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]
Harvard Business School Publishing
60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]
NUCB Business School
1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]
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Case reference: IMD-7-2648 ©2025
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