The Swatch Group
The company was founded in 1983 through the merger of ASUAG and SSIH, moving to manufacturing quartz-crystal watches to resolve the quartz crisis threatening the traditional Swiss watchmaking industry.[5] The group owns the Swatch product line and other luxury brands, including Blancpain, Breguet, Certina, ETA, Glashütte Original, Hamilton, Harry Winston, Longines, Mido, Omega, Rado, and Tissot.[12] HW Holding Inc., owner of Harry Winston, Inc., an American jewellery and luxury watch company, was acquired on 26 March 2013 for 711 million Swiss francs.[14] The following list includes the brands owned by the Swatch Group:[6][7] Current Discontinued or sold Swatch subsidiary ETA SA, which is based in Grenchen, Switzerland, furnishes many OEM brands, such as LVMH (which markets TAG Heuer, Hublot and Zenith watch lines) and Richemont (which markets amongst others, A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin).However, the Swatch Group abandoned the project for a fuel-cell-powered car in June 2015, to concentrate instead on a new type of battery with high storage capacity.