Swatch Buys Luxury Watch Firm

October 12, 2000

Swatch Buys Luxury Watch Firm

The Swatch Group added another high-end watch brand to its cache earlier this week when it bought Glashutter Uhrenbetrieb, maker of the Glashutte Original watch. Swatch says the purchase will enhance its luxury group, which also includes Breguet, Blancpain, Omega, Jaquet-Droz and Leon Hatot.

Glashutter, which produces about 10,000 high-quality watches annually, had very limited distribution in the U.S., but that will change with the acquisition.

According to the Swatch Group, Glashutter, founded in 1845, will remain in Dresden, Germany with its 150 employees.

- by Michael Thompson