
The so-called “Quartz Crisis”
Newly translated, a 1978 interview with the president of Girard-Perregaux, confirms that the exchange rate of the Swiss franc was seen as the most pressing matter for survival of the industry. The franc had skyrocketed in value against the US dollar.
Secondly was every brand trying to move to the high end market where they could
charge more. Oversaturating the market and giving Japanese competitors a wide open door to the middle.
Here’s the interview: https://open.substack.com/pub/chmandaue/p/snapshot-of-the-swiss-crisis-1978