Much mythology has build up around the Swiss meltdown of the 1970s and the rise of the Swatch Group under Nicholas Hayek, and rarely do we see these events placed into contexts of the industry structure and business environment of the time.
What we do know is that, today, the Swiss industry appears robust and very profitable. But,are the Swiss destined to experience more than one meltdown in the Alps in the coming decades? Could there be a repeat of that frightening decade when there was a very real question about the Swiss industry surviving?
In this essay, Cyril Bouquet, Writing in a 1999 journal about conditions that precede industry collapse, reviews the events that led up to the crash and follows the Hayek trajectory through to the boyant times of the late 1990s. In closing, he outlines some key issues that may determine the future of the Swatch group, some of which were taken up by Hayek when he expanded his niche brand base.
Its an interesting and comprehensive review that relies not on myth but published information of the period. Click here to download a copy