Today the global watch market is dominated by only a handful of countries, the clear leaders being
Switzerland and China. China is the world 's biggest watch producer in volume terms. However, Chinese watches are mainly geared toward the lower end of the price range. In the luxury segment, on the other hand, Switzerland enjoys a near-monopoly position. Although the Swiss watch industry accounts for only around 2.5% of global production in terms of unit numbers, it is by far the leading exporter of watches in value terms. The industry is now Switzerland 's third largest export sector after the pharmaceuticals industry and machinery. At 95%, almost its entire production is exported. Virtually no other sector is so focused on exports and consequently reliant on achieving success in an international environment.

A switch in time
This article from Management Review gives us insights into the rise and fight for sustainability of Swatch.
Swatch changed the face of the watch industry putting it on its knees after launching their plastic, colorful timepieces. Swatch’s standard is ‘instant fashion at a price’, a price of 30 USD which was revolutionary at the time. In order to respond to the resistance drawn by traditional luxury watch stores, the company invested in a big marketing strategy
(1) a complete marketing program including advertising, public relations, and special promotions;
(2) introduce a product concept;
(3) create a distribution concept.
There product concept was: