The pattern of high demand, over-production, and collapse is common in all industries, but especially in the history of Swiss watchmaking. We see it repeated throughout the 20th century, from ebauches to complete watches, but all of these efforts trace their roots to a crisis focused on the humble balance spring. Surprisingly, this very first attempt to create a cartel was also the most successful and disruptive! This is the story of Société des Fabriques de Spiraux Rèunies, which cornered the market for balance springs in 1895. The FSR was the template for Ebauches SA, ASUAG, and the Swatch Group, and we would be wise to study the lessons of this “cartel crisis”!
My Visit to the Swiss Jura, Home of Watchmaking
Like many watch fans, I was enticed by the concept of visiting the picturesque mountains of French-speaking northwest Switzerland, the Jura region, home of so many of my timepieces. But I was not entirely clear on what this visit would entail. Most of the articles about such visits focus on special arrangements by manufacturers or general overviews of the towns in the cantons of Neuchâtel and Geneva. I would be traveling alone and unannounced, however. What would await me in La Chaux-de-Fonds, Le Locle, Bienne-Biel, Le Sentier, and the rest?