HISTORY
The forerunner of Omega was founded at La Chaux-de-Fonds, Switzerland in 1848 by 23-year-old Louis Brandt, who assembled key-wound precision pocket watches from parts supplied by local craftsmen. He sold his watches from Italy to Scandinavia by way of England, his chief market. After Louis Brandt's death in 1879, his two sons Louis-Paul and César, troubled by irregular deliveries of questionable quality, abandoned the unsatisfactory assembly workshop system in favour of in-house manufacturing and total production control.
Relocation
Due to the greater supply of manpower, communications and energy in Biel/Bienne, the enterprise moved into a small factory in January 1880, then bought the entire building in December. Two years later the company moved into a converted spinning-factory in the Gurzelen area of Biel/Bienne, where its headquarters are still situated today.
Their first series-produced calibres, Labrador and Gurzelen, as well as the famous Omega calibre of 1894, would ensure the brand's marketing success.
Merger
Louis-Paul and César Brandt both died in 1903, leaving one of Switzerland's largest watch companies — with 240,000 watches produced annually and employing 800 people — in the hands of four young people, the oldest of whom, Paul-Emile Brandt, was not yet 24.
Brandt was the great architect and builder of Omega.[5] His influence would be felt over the next half-century. The economic difficulties brought on by the First World War would lead him to work actively from 1925 toward the union of Omega and Tissot, then to their merger in 1930 into the group SSIH, Geneva.
Under Brandt's leadership and Joseph Reiser's from 1955, the SSIH Group continued to grow and multiply, absorbing or creating some fifty companies, including Lanco and Lemania, manufacturer of the most famous Omega chronograph movements. By the 1970s, SSIH had become Switzerland's number one producer of finished watches and number three in the world. Up to this time, the Omega brand outsold Rolex, its main Swiss rival in the luxury watch segment, although Rolex watches sold at a higher price point. Around this time it was viewed as Rolex versus Omega in the competition for the "King of Swiss Watch brands". Omega watches tended to be more revolutionary and more professional focused, while Rolex watches were more ‘evolutionary’ and famous for their mechanical pieces and brand.
While Omega and Rolex had dominated in the pre-quartz era, this changed in the 1970s. That was when Japanese watch manufacturers such as Seiko and Citizen rose to dominance due to their pioneering of quartz movement. In response, Rolex continued concentrating on its expensive mechanical chronometers where its expertise lay (though it did have some experimentation in quartz), while Omega tried to compete with the Japanese in the quartz watch market with Swiss made quartz movements
Financial takeover
Weakened by the severe monetary crisis and recession of 1975 to 1980, SSIH was bailed out by the banks in 1981. During this period, Seiko expressed interest in acquiring Omega, but nothing came out of the talks.
Switzerland's other watch making giant Allgemeine Schweizerische Uhrenindustrie AG (ASUAG - supplier of a large range of Swiss movements and watch assemblers) was in economic difficulty. It was the principal manufacturer of Ébauche (unfinished movements) and owner, through their sub-holding company General Watch Co (GWC), of various other Swiss watch brands including Longines,Rado, Certina and Mido.
After drastic financial restructuring, the R&D departments of ASUAG and SSIH merged production operations at the ETA complex in Granges. The two companies completely merged forming ASUAG-SSIH, a holding company, in 1983.
Two years later this holding company was taken over by a group of private investors led by Nicolas Hayek. Renamed SMH, Société de Microélectronique et d'Horlogerie, this new group over the next decade proceeded to become one of the top watch producers in the world.[10] In 1998 it became the Swatch Group, which now manufactures Omega and other brands such as Blancpain, Swatch, andBreguet.
Omega's brand experienced a resurgence with advertisement that focused on product placement strategies, such as in the James Bond 007 films; the character had previously worn a Rolex Submariner but switched to the Omega Seamaster with GoldenEye (1995) and has stayed with the latter ever since. Omega also adopted many elements of Rolex's business model (i.e. higher pricing, tighter controls of dealer pricing, increasing advertising, etc.) which was successful in increasing Omega's market share and name recognition to become more of a direct competitor to Rolex.
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Observatory Trials
Observatory trials focused on the science of Chronometry and the ability to make chronometers measure time precisely. Only Patek Philippe and Omega participated every year in the trials. Omega's performances at these competitions garnered the company a reputation of precision and innovation.[12]
For more than a decade (1958 – 1969), Omega was the largest manufacturer of COSC chronometers. Omega developed the slogan "Omega – Exact time for life" in 1931 based on historical performance at the Observatory trials. Omega's early prowess in designing and regulating timing movements was made possible by the company's incorporation of new chronometric innovations.
PRODUCTS
James Bond

The Omega Seamaster, a deep diving watch. The second crown (at 10 o'clock) is a helium release valve to allow helium out of the watch after diving at great depth. The watch is similar to that shown in recent James Bond films, in which this valve is transformed into improbable hidden gadgets.
Omega has been associated with James Bond movies since 1995. That year, Pierce Brosnan took over the role of James Bond and began wearing the Omega Seamaster Quartz Professional (model 2541.80.00) in the movie GoldenEye. In all later films, Brosnan wore an Omega Seamaster Professional Chronometer (model 2531.80.00). The producers wanted to update the image of the fictional "super-spy" to a more distinctly sophisticated "Euro" look.[42]
Another possible reason for the change from the Rolex Submariner that Bond had previously worn was a change in the business environment surrounding modern high-profile films and product placement. Omega was eager to participate in high profile co-promotions/product placement opportunities, especially the James Bond franchise, to further its brand image/awareness. It accomplished this by supplying products and finance (something that the conservative Rolex company avoids, presumably because it sees no benefit for itself).[43]
For the 40th anniversary of James Bond (2002) a commemorative edition of the watch was made available model 2537.80.00 (10,007 units). The watch is identical to the model 2531.80.00 except the blue watch dial had a 007 logo inscribed across it and also machined into the caseback. The band also had 007 inscribed on the clasp.
Daniel Craig, the current James Bond since Casino Royale also wears the Omega Seamaster: the Seamaster Planet Ocean (model 2900.50.91) in the first part of Casino Royale, and the Seamaster Professional 300M (model 2220.80.00) in the latter part (from travelling to Montenegro). He even goes so far as to mention Omega by name when questioned by Vesper Lynd. In connection with the launch of the film, Omega released an 007-special of the Professional 300M, featuring the 007-gun logo on the second hand and the rifle pattern on the watch face, this being a stylized representation of the gunbarrel sequence of Bond movies.
Omega released a second James Bond limited edition watch in 2006. This was a Seamaster Planet Ocean model with a limited production of 5007 units. The model is similar to what Craig wears earlier on in the film; however, it has a small orange colored 007 logo on the second hand, an engraved caseback signifying the Bond connection, and an engraved 007 on the clasp.[46] In the newest movie, Quantum of Solace, Craig wears the Omega Seamaster Planet Ocean with a black face and steel bracelet (42mm version). Another limited edition was released featuring the checkered "PPK grip" face with the Quantum of Solace logo over it.
Sports sponsorship
Omega has frequently been the official timekeeper for the Olympics, beginning with the 1932 Summer Olympics. It was the official timekeeper for the 2006 Winter Olympics and for the 2008 Summer Olympics, and did the same for the 2010 Winter Olympics.[47] For the 2008 Olympics, Omega brought out an Olympic edition with its logo on the second hand. Olympic swimmer and multiple gold medalist Michael Phelps is an Omega Ambassador and wears the Seamaster Planet Ocean. Omega is also the official timekeeper for the 2012 Summer Olympic Games.
Providing support to Emirates Team New Zealand and representing the team's official watch, in 2007 Omega introduced the Seamaster NZL-32 chronograph, with the name suggested by the name of the boat that won the America's Cup in 1995. The watch was developed in cooperation with Dean Barker, skipper of Team New Zealand and Omega Ambassador.
On July 1, 2011 Omega became the official timekeeper of PGA of America through the signing of a five year agreement that will carry through 2016.
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Watch models

Rare Seamaster chronometer in stainless steel case w/ rose gold markers, Ca. 1949

The Seamaster Planet Ocean 600 M diving watch is currently Omega's newest version of the Seamaster Series.
For men * Constellation * Omega Seamaster * includes the Planet Ocean, Ploprof, Aqua Terra, and Seamaster Bond Styles * Omega Speedmaster * includes the famous Omega Speedmaster Professional Moon watch * Deville * Dynamic (*Discontinued Circa 1997) * Specialities * includes their skeleton Seamaster and Central Tourbillon DeVille.
Geneve
For women * Constellation * Seamaster * Speedmaster * Deville * Specialities
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Movements and the Co-Axial escapement
In 1947, Omega created the first tourbillon wristwatch calibre in the world with the 30I. Twelve of these movements were made, intended for inclusion in the observatory trials in Geneva, Neuchâtel and Kew-Teddington, and they were known as the Omega Observatory Tourbillons. Unlike conventional Tourbillion movement’s whose cages rotate once per minute, the 30I’s cage rotated one time each seven and a half minutes. In 1949, one of these delivered the best results ever recorded by a wristwatch up to that time. A year later, Omega broke its own record, in the Geneva Observatory Trials of 1950.
In 1999, with the successful own development of Calibre 2500,[14] Omega made history by introducing the first mass-produced watch incorporating the co-axial escapement — invented by English watchmaker George Daniels. Considered by many[15] to be one of the more significant horological advances since the invention of the lever escapement, the co-axial escapement functions with virtually no lubrication, thereby eliminating one of the shortcomings of the traditional lever escapement. Through using radial frictioninstead of sliding friction at the impulse surfaces the co-axial escapement significantly reduces friction, theoretically resulting in longer service intervals and greater accuracy over time.
On January 24, 2007 Omega unveiled its new Calibres 8500 and 8501, two co-axial (25,200 bph) movements created exclusively from inception by Omega.
On January 17, 2013 Omega announced the creation of the world's first movement that is resistant to magnetic fields greater than 1.5 tesla (15,000 gauss), far exceeding the levels of magnetic resistance achieved by any previous movement. Most anti-magnetic watches utilize a soft iron - faraday cage which distributes electromagnetism in such a way that it cancels the effect on the movement contained within. Omega has instead built a movement of non-ferrous materials eliminating the need for such a cage and providing a far greater resistance to magnetic fields. [19]
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Omega watches in space exploration

The Omega Speedmaster, or "Moonwatch", selected by NASA for all the Apollo missions
Main article: Omega Speedmaster Professional
The selection of the "Omega Speedmaster Professional Chronograph" for American astronauts was the subject of a rivalry between Omega and Bulova.[20]
All subsequent manned NASA missions also used this handwound wristwatch. NASA started selecting the chronograph in the early 1960s. Automatic chronograph wristwatches were not available until 1969. Even so, all the instrument panel clocks and time-keeping mechanisms in the spacecraft on those space missions were Bulova Accutrons with tuning fork movements, because at the time NASA did not know how well a mechanical movement would work in zero gravity.
First watch on the moon
The "Omega Speedmaster Professional Chronograph" was the first watch on the Moon, worn by Buzz Aldrin. Although Apollo 11 commander Neil Armstrong was first to set foot on the moon, he left his 105.012 Speedmaster inside the Lunar Module as a backup because the LM's electronic timer had malfunctioned. Buzz Aldrin elected to wear his and so his Speedmaster became the first watch to be worn on the moon. Armstrong's watch is now displayed at the National Air and Space Museum in Washington, D.C.[21] Aldrin's is lost. He mentions in his book, Return to Earth, that when donating several items to the Smithsonian Institution, his Omega was one of the few things that was stolen from his personal effects.
In 2007, to mark the 50th anniversary of the Omega Speedmaster Professional Chronograph, the Omega company unveiled the commemorative Speedmaster Professional Chronograph Moonwatch. The watch had the distinctive features of the first hand-winding Omega Speedmaster introduced in 1957. It was sold in an edition of 5,957.
Client profile
Omega sponsors a number of celebrities to wear and advertise their watches including: * Rory McIlroy Golfer * Buzz Aldrin Astronaut * Abhishek Bachchan Actor * Pierce Brosnan Actor * Eugene Cernan Astronaut [25] * George Clooney Actor [26] * Daniel Craig Actor and the fictional character James Bond. * Cindy Crawford Fashion Model [27] * Sergio García Golfer * Nicole Kidman Actress [28] * Greg Norman Golfer * Michael Phelps Swimming champion [29] * Michelle Wie Golfer * Zhang Ziyi Actress[30] * Davis Love III Golfer [31]
In addition the following have been seen wearing Omega watches: * Prince William wore an Omega Seamaster 300M Quartz.[32] * Joe Biden, the current vice president of the United State of America, wore a blue Omega Seamaster Professional 300M Quartz.[33] * John F. Kennedy [34] * Mao Zedong, the founding father of the People's Republic of China (PRC), wore an Omega for 31 years.[35] * Mikhail Gorbachev, The former president of the Soviet Union wore a gold Omega Constellation “Manhattan” [36] * Elvis Presley, American singer, actor, cultural icon, and one of the most popular musicians of the 20th-century wore a black-dialed Constellation Calendar [37] * Jeremy Clarkson, English journalist, broadcaster and presenter of motoring television show Top Gear wears a Seamaster Planet Ocean and a Seamaster Professional 300M. * Tom Hanks, American actor, producer, writer, and director wears an Omega Speedmaster Professional [38] * Adam Savage, American special effects designer, co-host of The Discovery Channel television series MythBusters wears a Seamaster Planet Ocean Chronograph. * Reinhold Messner, mountaineer, adventurer, and explorer wore an Omega Speedmaster Professional [39] * Stone Cold Steve Austin, American film and television actor, producer, and retired professional wrestler wears an Omega Seamaster Professional Chronograph and is an avid watch collector/enthusiast [40] * Gianni Agnelli, former head of FIAT and German industrialist wore an Omega Seamaster Ploprof * Jack Hanna, American zookeeper who is the Director Emeritus of the Columbus Zoo and Aquarium wears an Omega Seamaster Professional [41]
PRESENT MARKET SHARE
Digital Luxury Group recently published a study on the market shares for the world’s top luxury watch brands. The shares are based on Internet searches for each brand – the Digital Luxury group tracked 40 of the world’s most famous brands (see below for a list). Rolex was once again on the top of the list with 18.63% of Internet searches. Rolex’s spot at the top may be in jeopardy though. Omega claimed 15.84% of searches – less than three percentage points below Rolex. In 2009, in a similar study, the gap was over eight percentage points. Why is Omega gaining ground? China. Omega entered China early and recognized the potential for the huge, growing market. Omega is the number one player in China – a market whose demand for luxury product just surpassed that of the US.
Cartier rounded out the top 3 with 7.05% of online searches.

FINANCIAL INFORMATION CASH FLOWCash Flow (mil) | 2012 | 20112011 | 2010 | Cash at the beginning of the year | $1,719.424 | $1,941.9183 | $1,057.8132 | Net Operating Cash | $1,093.1058 | $750.12 | $1,438.1038 | Net Investing Cash | $(914.7512) | $(596.904) | $(349.6941) | Net Financing Cash | $(279.021) | $(372.4) | $(264.6621) | Net Change in Cash | $(100.6664) | $(219.184) | $823.7475 | Cash at end of the year | $1,663.184 | $1,719.424 | $1,941.9183 | Capital Expenditure | $(521.9334) | $(418.152) | $(309.3039) |

BBALANCE SHEETsets (mil) | 2012 | 2011 | 2010 | Current Assets | | | | Cash | $1,663.184 | $1,719.424 | $1,941.9183 | Net Receivables | $ | $ | $ | Inventories | $4,822.1392 | $3,905.9441 | $3,049.4602 | Other Income Assets | $2,078.98 | $1,924.776 | $1,635.8031 | Asset Summary | Total Current Assets | $8,564.3037 | $7,550.144 | $6,627.1816 | Net Fixed Assets | $2,066.9438 | $1,771.5601 | $1,581.5952 | Other Noncurrent Assets | $1,647.8652 | $1,110.816 | $947.0439 | Total Assets | $12,279.1123 | $10,432.5195 | $9,155.8203 |

Liailities (mil) | 2012 | 2011 | 2010 | Current Liabilities | Accounts Payable | $350.144 | $425.6 | $309.3039 | Short Term Debt | $ | $ | $ | Other Current Liabilities | $967.2728 | $799.064 | $774.8541 | Liability Summary | Total Current Liabilities | $1,317.4167 | $1,224.6639 | $1,084.158 | Long Term Debt | $65.652 | $ | $ | Other Noncurrent Liabilities | $671.8388 | $620.312 | $524.0097 | Total Liabilities | $2,054.9077 | $1,844.976 | $1,608.1677 |

Stakeholder's Equity (mil) | 2012 | 2011 | 2010 | Equity | Preferred Stock Equity | $ | $ | $ | Common Stock Equity | $10,224.2051 | $8,587.5439 | $7,547.6528 | Equity Summary | Total Equity | $10,224.2051 | $8,587.5439 | $7,547.6528 | Shares Outstanding | 30.84 | 30.34 | 30.34 |
ACHIEVEMENTS
* 1894: Creation of the famous 19 caliber named Omega. The company is renamed after this famous caliber in 1848 from 'Louis Brandt et Frères'. Omega participates for the first time at observatory trials in Neuenburg (French: Neuchâtel). Albert Willemin, the first "regleur de précision" at Omega, regulated the movement. * 1911: Albert Willemin leaves Omega and is replaced by Werner-A. Dubois. * 1918: Werner-A. Dubois leaves Omega (he joins Paul Ditisheim) and is replaced by Carl Billeter. * 1919: 1st Prize at observatory trials in Neuenburg with a 21 caliber. This caliber was slightly modified to become the famous Cal. 47.7 later. * 1920: Gottlob Ith replaces Carl Billeter. * 1922: Omega participates for the first time at observatory trials in Kew-Teddington (achieved 3rd place). * 1925: 1st place at observatory trials in Kew-Teddington with a Cal. 47.7 (95.9 of 100 points ex aequo with Ulysse Nardin); Gottlob Ith regulated the movement. * 1929: Alfred Jaccard joined Omega. * 1930: 1st place at observatory trials in Kew-Teddington (96.3 of 100 points ex aequo with Movado); Alfred Jaccard regulated the movement. * 1931: Omega achieves 1st place in all 6 categories at observatory trials in Geneva; Alfred Jaccard regulated the movements. * 1933: A Cal. 47.7 regulated by Alfred Jaccard achieved the precision record at observatory trials. Kew-Teddington; 97.4 points of 100. * 1936: Another Cal. 47.7 regulated by Alfred Jaccard achieved the precision record of 97.8 points of 100. Kew-Teddington. This record was never broken even until 1965. * 1937: 1st place at Kew-Teddington with 97.3 points. * 1938: 1st place at Kew-Teddington with 97.7 points. * 1939: Creation of the Cal. 30 (the first 30mm caliber). * 1940: 1st place with Cal. 30mm at Kew Teddington; movement regulated by Alfred Jaccard. * 1943: Launch of the 30mm caliber 30T2 (first rose gold-plated Omega movement). * 1945: 1st place with 30mm caliber at the observatory in Geneva; movement regulated by Alfred Jaccard. * 1947: Creation of the first Omega tourbillon wristwatch movement (Cal. 30I). Specially developed for the observatory trials (only 12 pieces made). * 1948: 1st place at observatory trial in Neuenburg for 30mm caliber. 1st time non-Swiss companies allowed to take part. * 1950: 1st place for tourbillon Cal. 30I at Geneva Trials; regulated by Alfred Jaccard. Joseph Ory joins precision timing department after being Trainer to women timers (regleuse). * 1951/2:1st place at the observatory trials in Geneva. * 1953: Alfred Jaccard died. * 1954: New record in Geneva by Gottlob Ith. * 1955: Two new records at Neuenburg by Gottlob Ith. * 1956: Gottlob Ith died aged 66 years; Joseph Ory takes over as head of department. Two 1st places at observatory trials in Neuenburg. * 1958: New record in Geneva movements regulated by Joseph Ory. Creation of competition Cal. 30GD – a 30mm caliber with better mainspring and higher frequency (25,200 instead of 18,000 vph). This unusual frequency is used again today for the latest Co-Axial movements. * 1959: Two records in Neuenburg and one new record in Geneva; movements regulated by Joseph Ory. * 1960: One new record in Geneva, One new record in Neuenburg and also 1st place in Neuenburg. Movements regulated by Joseph Ory. * 1961: Two new records in Geneva by Joseph Ory. The first four places for the 'single pieces' category in Geneva are occupied by Omega. * 1962: 2nd, 3rd and 4th places for Omega, which decides to create a new caliber. * 1963: Two 1st places in Geneva and Neuenburg. Movements regulated by Joseph Ory and André Brielmann. * 1964: New record in Neuchatel by Joseph Ory. * 1965: Omega occupies 2nd to 9th places (1st place goes to Zenith). Pierre Chopard was tasked to create a new Caliber for the observatory trials. Cal. E11 had a very unusual shape to take a very big barrel and its mainspring. It never entered competition because quartz movements arrived in 1967. * 1966: Three new records for Omega (two in Neuenburg, one in Geneva). * 1967: Quartz movement Beta 1 (later Beta 21) included in the same category as mechanical movements. Last year that Omega competed with mechanical movements as "old technology" not comparable with quartz. * 1968: Omega enters with a tuning fork movement regulated by André Brielmann for a new record. * 1969: Two new records for the tuning fork movements regulated by André Brielmann. * 1970: One new record for the tuning fork movement regulated by André Brielmann. * 1971: Two new records for the tuning fork movements regulated by André Brielmann. * 1972: André Brielmann retires.

COMPARATIVE ANALYSIS Omega | Parent Company | The Swatch group | Category | Watches and Accessories | Sector | Lifestyle and Retail | Tagline/ Slogan | The sign of excellence; The watch The World Has Learned To Trust Omega. The right time for life | USP | Technologically innovative watches | STP | Segment | Premium luxury watches | Target Group | High Income group men and women | Positioning | A watch brand associated with precision, accuracy and a pioneering spirit | SWOT Analysis | Strength | 1. Omega has an image of high quality substantiated with long warranty periods
2. Official time keeper of most sporting events like Olympics and Golf tournaments leading to its association as an accurate watch brand
3. Known for its Co-axial technology4.International celebrities represent Omega as brand ambassadors.5. Part of the Swatch group that has 28,000 employees across 50 countries with 250 boutiques’ locations across the world | Weakness | 1. The positioning of Brand Omega is not as strong and differentiated as compared to its competitors2. Limited market share growth due to competition3. Imitations of branded watches hurt brand image and sales
4. The brand is dependent highly on its brand ambassadors for its marketing and advertising campaigns | Opportunity | 1.The brand can expand into new categories of watches furthering its image of being pioneers
2.Growth opportunities are high in the luxury segment in developing and emerging economies in the world | Threats | 1. Competition from other brands in the having a stronger positioning than Omega
2. Fluctuating economies means limited spending on luxury items3. Fake/cheap imitations cause damage to brand | Competition | Competitors | 1. Tag Heuer
2. Cartier
3. Rolex |