Timex Turns down the Swatch
1982, Timex turned down the opportunity to market "Swatches".
Timex was resting on its laurels, simple low cost watches.
Digital revolutionized industry technological change, Timex stuck with analog.
DID NOT KEEP UP WITH WATCHES EVOLUTION FROM A FUNCTIONAL OBJECT TO A FASHION ACCESSORY.
Now consumer owns 5 watches up from 1.5 30 years ago (emphasizing fashion need). Timex has acquired Guess and Monet Jewellers (distribution outlets) in an effort respond to change.
Product mix:
Dressy watches to Walt Disney Character watches, Indigo. Now have 1,500 styles, 300 in 1970.
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