Chaotic scenes erupted from New York to Zurich, Paris and Tokyo in May as collectors and resellers queued, sometimes for days, to buy brightly coloured plastic pocket watches.
Fist fights broke out, stores were forced to close and police used tear gas in at least one city to disperse crowds trying to get their hands on a Royal Pop watch, created by Swatch and Audemars Piguet.
The frenzy was a reminder that few companies understand hype better than Switzerland’s Swatch Group. But the world’s largest finished watchmaker, whose 16 brands range from $50 plastic Swatches to high-end Breguet timepieces costing tens of thousands of dollars, is facing one of the most difficult periods in its history.
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