The founder of the iconic Swiss watch brand ‘Swatch’ has died at the age of 82.
Nicholas Hayek, who is credited with saving the Swiss watch industry, collapsed at his office in Switzerland.
The inexpensive plastic watches with funky designs developed by his company helped combat the threat posed by cheap Japanese imports. Swatch eventually became the world’s largest watchmaker.
In later life, Hayek turned his entrepreneurial skills to vehicles. He was also one of the cofounders of the Smart car. The design, engineering and construction was carried out in France.