Swatch CEO Surprised by Success of the MoonSwatch

The transcript features an interview with Nick Hayek discussing the success of the Omega Moon Swatch, future plans for Swatch in 2023, and the brand's market strategy. Hayek emphasizes the importance of maintaining production in Switzerland and the potential for growth in both the US and Chinese markets. He also discusses the value of exclusive products over luxury, the impact of economic conditions on the business, and the role of watches as assets. The conversation touches on the importance of emotional connection with products and the potential for Swatch to continue innovating and surprising the market.

What was a surprising outcome of the Omega Moon Swatch launch?

• It generated long-lasting demand.

• It failed to attract young customers.

• It was only popular in Europe.

• It was a limited edition.

What is Swatch's approach to maintaining success in 2023?

• Focusing solely on luxury products.

• Continuing with positive provocation and innovation.

• Limiting sales to exclusive markets.

• Reducing production costs significantly.

How does Nick Hayek view the potential impact of a recession on Swatch?

• He believes it will lead to massive layoffs.

• He sees it as an opportunity for positive surprises.

• He expects it to halt all new product development.

• He thinks it will force Swatch to relocate production.

What is Nick Hayek's perspective on the luxury market?

• Exclusive products should be accessible to a wider audience.

• Luxury products should always increase in price.

• The luxury market is not important for Swatch.

• Luxury should only cater to the elite.

How does Swatch's strategy differ from Rolex regarding pre-owned watches?

• Swatch certifies all pre-owned watches.

• Swatch focuses on high-end luxury certification.

• Swatch only sells through authorized dealers.

• Swatch does not need to certify pre-owned watches.

What is the potential of the Chinese market according to Nick Hayek?

• Only relevant for luxury goods.

• Negligible due to economic instability.

• Huge, with a focus on quality and emotional products.

• Limited due to high competition.

What does Nick Hayek believe is the true objective of Swatch's business?

• To focus solely on technological innovation.

• To dominate the luxury watch market.

• To add value to people's lives through joy and provocation.

• To become the richest company.