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Swatch and the Global Watch Industry The Swatch Group (formerly Société Suisse de Microélectronique & d'Horlogerie) is the world's second largest watchmaker (after Citizen Watch) and have always been experts in their respective field. Its main competitors are Citizen Watch Co. Ltd, Montres Rolex S.A. and Seiko Corporation. Its watches range from low-priced, collectible Swatch and Flik Flak to premium-priced Longines, Blancpain, and Omega brands. Lately however, the Swatch Group has been facing difficulties. In early June 1999, the company's corporate strategy had to be revamped due to an overwhelmed watch market, increasing competition, decreasing market share, increasing production costs, and a highly criticized and unsuccessful Swatchmobile joint venture with Mercedes of DaimlerChrysler. To improve the Swatch Group's situation they must first and foremost issue a new corporate-level plan to deal with the dynamic watch market. Nicolas G. Hayek and top management must take the initiative to regain...

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