
Often wearing approximately four watches per wrist, Nicolas Hayek, Chairman and Delegate of the Board of Directors of The Swatch Group LTD., died yesterday from heart failure while working at Swatch Group headquarters in Biel, Switzerland.
Hayek revolutionized the wristwatch with the ever-popular Swatch watch. This watch not only required approximately half the parts needed to produce a traditional wristwatch, but it was extremely low priced for a watch of it’s time. The first Swatch came in at under $35 with only 51 parts required to tick.
With an education in math, physics, and chemistry, Hayek started his own consulting firm in the 1960’s. Ironically, twenty years later, Swiss banks called on Hayek to write a report on how to liquidate the watch making industry. Instead, he merged two companies, which housed watch brands like Tissot, Longines, and Omega.
In 1983 Hayek introduced the Swatch watch, which became a popular collectors item worldwide. The appeal came from the plastic casing and straps that were available in an assortment of funky colors.
Hayek was a pioneer, an accessory lover, and an innovate thinker – he will be missed.
We LOVE our Swatch watches! Please shop through our favorites below.
