Word: blancpain
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Dates: during 1990-1999
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Hayek put up $102 million -- mostly his own money -- and led a group of investors in buying the two companies from the banks. He then merged them, effectively taking control of one-third of the Swiss watch industry, including such famous brands as Omega, Longines, Blancpain, Tissot, Rado and Hamilton. But his big coup was figuring out that a product invented before his arrival could be the high-quality, low-price, plastic quartz watch that would challenge the Japanese at the lower end of the market. The $35-to-$40 Swatch, which reduced by half the usual number of parts...
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