Nicholas G. Hayek, Champion of the Swiss Watch Industry and Founder of Swatch Dies ¶
Nicholas G. Hayek was often referred to as the man who saved the Swiss watch industry. By consolidating some of the most important brands and founding Swatch to marry mass production with Swiss quality manufacturing he thwarted the negative effects that the advent of inexpensive, Japanese quartz watches were having on the Swiss manufacturers. Mr. Hayek was 82 on June 28th, when he died suddenly. His larger-than-life personality and hands-on business attitude will surely be missed by his colleagues.
In the past we have entered two posts directly related to Nicholas G. Hayek onto the Baily Blog. The first entry, In-House Movements A Must? Nicolas Hayek Sends Wakeup Call to Swiss Watch Industry, focuses on ETA. Under Mr. Hayek's control, this movement manufacturer was as instrumental in reviving the Swiss watch industry. It still serves as an important pillar supporting the industry today. The second is titled Nicolas G. Hayek, The Man Who Saved the Swiss Watch Industry and summarizes his achievements and his contributions to the Swiss watch industry. Today the Swatch Group is run by his son, Nick Hayek Jr., and holds some of Switzerland's leading manufacturers including ETA, Omega, Blancpain, and Hamilton Watches.
The staff at Matt Baily offer their condolences to the family and friends of the deceased.