Swatch Corp SWOT Analysis

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STRENGTH

Swatch’s strength comes from its innovative approach to design and marketing its product. Swatch was conceived to satisfy the demand for more inexpensive Swiss watches, and to break from the old image of Swiss watches that were mostly intricate designs and expensive prices. The Swatch motto-“always new, always different”, was the theme behind Swatch commissioning leading designers and artists to design special limited-edition models to be sold in the company’s own chain of very recognizable outlets. The decision to pull out of the retail operations that were not doing very well for the company is no doubt part of the reason for the increase in sales at the company stores and rise in online orders placed. Managements ability to adapt quickly and flexibly to market conditions is most definitely a strength of the Swatch Group. Finally, the strength of the Swatch Company is most evident in that it has developed recognized watch brands that cover all consumer segments from lower and middle to high-end markets.

WEAKNESS

One weakness of the Swatch Company is the high-end portion of its collection. This includes the luxury brands Breguet and Jaquet-Droz, two costly acquisitions whose sales are very dependent on the external economic climate that determines how much disposable income people are willing to spend on luxury items such as $10,000 watches. In the current slowing global economy, luxury items got hit the hardest as people in general are focusing more on essentials.




OPPORTUNITY

An opportunity that Swatch is presently taking advantage of is being an Olympic Partners sponsor. The sponsorship makes Swatch the official timing supplier, competition results manager and licensed merchandised sponsor for the period 005-008. The sponsorship to be official timekeeper for the Olympics is generally considered the most visible as the marketers name is displayed alongside scores and results on scoring and timing devices for everything from skiing to swimming competitions. This sponsorship also legitimizes Swatchs position as a reliable timepiece, not merely a trendy fashion item from decades past.

Another facet of Swatch is their ability to create an opportunity by innovating something as fundamental as how we measure time itself. Five years ago Swatch developed a universal time reference called Internet Time that does away with time zones and helps facilitate communication and collaboration between people around the world. Internet Time is based on a cycle of 1000 beats per day, (each beat equivalent to 1 minute, 6.4 seconds) rather than a 4-hour period. Working with America Online, Swatch has integrated Internet Time into the ICQ service of AOL, which offers the most robust instant messaging and enhanced communications features in the market today. Together, these services enable seamless real time communication between people around the world in different time zones.

THREAT

A threat that Swatch needs to pay close attention to is the Swiss competition regulators (COMCO) investigations. Merrill Lynch downgraded Swatch to neutral from buy in November 00 on news of a probe by the Swiss competition regulator into alleged abuse of its dominant market position. The probe will be focusing on the price hikes of as much as 5 percent on various clock components, and the plan to phase out delivery of individual clock components by 005. The probe has generated some undesirable press for the company, and prompted COMCO to require that Swatch continue supplying clock components throughout the duration of the probe.



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