Word: timex
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Dates: during 1960-1969
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...same period last year), and the Automatic 100 should send them even higher. In line with Land's longstanding policy ("Let's only make what somebody else can't make"), Pola roid farms out the production of its camera to U.S. Time Corp. (Timex watch es), keeps only the top-secret film-making process to itself. By 1965, however, its patent protection will begin to run out, and the door will be opened to imitators from all over the world. Land intends to make it hard for them to catch up. The Automatic 100 even...
...United States Time Corp. of Middlebury, Conn., proudly boasts that one of its Timex watches recently swallowed by a Texas farmer's cow ran as good as new when the farmer retrieved it. Like the cow, U.S. jewelers know how it feels to swallow Timex. At first they opposed carrying Timex's low-cost, low-profit watches, but Timex is now the nation's fastest-selling timepiece. Since the first Timex was sold twelve years ago, Americans have bought 50 million of them and U.S. Time has become the world's largest watchmaker (1962 sales...
Frozen & Hammered. Timex has tapped the mass market for watches in much the same way as paperback publishers have for books. When jewelers spurned it because of its low 50% markup (100% for other watches), U.S. Time Sales Vice President Robert E. Mohr, 42, set up displays in drugstores, department stores and cigar stands, featuring a device that dunked a ticking watch into water and banged it with a hammer. The public really began to take notice when Mohr moved the torture test to television, shaking Timexes in automatic paint mixers, freezing them in blocks of ice, and tying them...
Pricing its watches from $6.95 to $39.95 (for a battery-powered electric model), Timex ignored the notion of a watch as a lifetime gift and made it an impulse item. The company preaches that it is almost as cheap to buy a new Timex as to repair an old one, and urges consumers to build a wardrobe of different watch styles, as if watches were shoes. With Timex sales growing at twice the rate of the rest of the watch industry, it is a rare jeweler-and usually a "prestige" one with no need for the business...
Simple Works. Timex was born after World War II, when U.S. Time's taciturn, Norwegian-born President and Chairman Joakim M. Lehmkuhl, 67, ordered his engineers to design a watch so simple that it could be geared for automatic production. The watch they produced is so uncomplicated that its works are mounted between two plates instead of a network of five as on other models, and have only four screws v. 31 in other watches. Timex's simplicity gives it amazing shockproof qualities, but most jewelers agree that, with its metal bearings, Timex will not keep time...