Omega watches along history

His influence would be felt over the next half-century. The economic difficulties brought on by the First World War would lead him to work actively from 1925 toward the union of Omega and Tissot, then to their merger in 1930 within the group SSIH, Geneva.

Under his leadership, and from 1955 that of Joseph Reiser, the SSIH Group continued to grow and multiply, absorbing or creating some fifty companies. By the seventies, SSIH had become Switzerland's number one producer of finished watches and number three in the world.

Weakened by the severe monetary crisis and recession of 1975 to 1980, SSIH was bailed out by the banks in 1981. During this period, Seiko expressed interest in acquiring Omega, but nothing came out of the talks.

Switzerland's other watchmaking giant Allgemeine Schweizerische Uhrenindustrie AG (ASUAG), principal manufacturer of ébauches (unfinished movements produced for a range of other Swiss watch assemblers) and owner of the Longines and Rado watch brands, was similarly saved a year later.

After drastic financial cleansing and a restructuring of the two groups' R&D and production operations at the ETA complex in Granges, the two giants merged in 1983 to form the Holding ASUAG-SSIH.

In 1985 the holding company was taken over by a group of private investors under the strategy and leadership of Nicolas Hayek.

Immediately renamed SMH, Société suisse de Microélectronique et d'Horlogerie, the new group achieved rapid growth and success to become today's top watch producer in the world. Named Swatch Group in 1998, it now includes Blancpain and Breguet. Omega remains one of its most prestigious brands.

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