Pulling the Plug
Opinion: Is Swiss Watch Movement Maker ETA Cutting Off the Competition or Improving the Breed?
Swiss watch movement maker ETA supplies much of the horological world with movements and ébauches (partial movements in need of finishing). Then in 2002 Nicholas Hayek, then chairman of The Swatch Group (ETA’s parent company), announced that ETA would soon begin tapering back the supply of ébauches to the world of Swiss watchmaking beyond their sister brands. Effectively, the Swatch Group decided to stop selling to the competition, albeit gradually. The uproar was tremendous.