Rado SWOT Analysis – SWOT Analysis of Rado: Rado is a Swiss luxury watchmaking firm that was founded in 1917. It is located in Lengnau, Switzerland. The company introduced its first scratch-resistant watches in the year 1962. Today, the company makes about one-half million watches each year and employs a total of 470 people.
Rado is a worldwide renowned brand known for its distinctive design and revolutionary materials that allow for stunning and long-lasting watches. The watches made by Rado utilize materials such as Carbide, Ceramics, and Sapphire Crystal. Over the years, Rado watches have been made of high-tech ceramics and have been an integral component in the process of making watches.
High-tech ceramic watches are the principal pieces of craftsmanship and art. They feature a sleek and stylish surface that is matte or metallic that’s created in various shades. Rado watches offer a simple way to look glamorous. They are light and hypoallergenic, making them extremely comfy to wear. Rado brand has been awarded numerous prestigious worldwide design awards and is also collaborating with top designers to develop new timepieces.
It also hosts Rado Star Prize competitions around the globe for new designers in the making. Design is the foundation of the many innovative timepieces that Rado has created.
In this post, we’ll look at the SWOT analysis of Rado.
Rado fun facts: Rado’s first scratch-resistant watch was the iconic DiaStar 1, the world’s first scratch-resistant watch. And to this day they still include this revolutionary innovative technology in their luxury watches which sets them apart to their competition.
Contents
About Rado – SWOT analysis of Rado
[wp-svg-icons icon=”office” wrap=”I”] Company: The Swatch Group
[wp-svg-icons icon=”user” wrap=”I”] CEO: Matthias Breschan
[wp-svg-icons icon=”user” wrap=”I”] Founder: Ernst Schlup | Werner Schlup | Fritz Schlup
[wp-svg-icons icon=”calendar” wrap=”I”] Year founded: 1917, Lengnau, Switzerland
[wp-svg-icons icon=”location-2″ wrap=”I”] Headquarters: Lengnau, Switzerland
[wp-svg-icons icon=”stats” wrap=”I”] Annual Revenue: CHF6.13 billion
[wp-svg-icons icon=”bars” wrap=”i”] Profit | Net income: CHF805 million
[wp-svg-icons icon=”users” wrap=”I”] Number of employees: 619
[wp-svg-icons icon=”pie” wrap=”i”] Products & Services: Watches | Jewelry | Electronic systems
[wp-svg-icons icon=”globe” wrap=”I”] Website: www.swatchgroup.com
Rado Competitors
[wp-svg-icons icon=”pacman” wrap=”I”] Competitors: Ulysse Nardin | TAG Heuer USA | A. Lange & Söhne | Swatch Group US | Breguet | Baume & Mercier | Audemars Piguet | IWC Schaffhausen | Cartier | Bulgari | Rolex | Tissot
SWOT analysis of Rado – Rado SWOT analysis
SWOT Analysis Of Rado is brand-based. SWOT Analysis of Rado evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Rado’s SWOT Analysis. Below is the detailed SWOT Analysis of Rado.
Let’s talk about Rado’s SWOT assessment.
Strengths of Rado – Rado SWOT analysis
- Inclusion in the Guinness Book: Rado is now in the Guinness Book of world records through the creation of high-tech diamonds. It has also strengthened its standing as a technologically innovative company by using the material.
- Award Winner: The Rado brand has won numerous prestigious international design awards. It also works with top designers to develop new timepieces. Rado has won more than 30 design awards from around the world.
- Utilization of new materials: The most notable feature of Rado watches is the use of new materials that are incredibly diverse and are not restricted to a specific design.
- Association with sports events: Rado brand has been associated with a variety of tennis events, but the most notable is tennis. This association has enabled Rado to gain an international reputation.
- Brand Ambassadors: The Rado brand has numerous brand ambassadors from the sports and film industries.
- A good marketing strategy – Rado brand is a great branding and advertising strategy using print and online advertisements televisions, as well as sponsored events.
- The Profit Increase: The primary advantage of this name is the fact that profits of the company increase year on year, and they also boost the amount of money they make each year.
- Quality: Rado brand is renowned for its high-end. It is based on the most advanced mechanisms as well as technologies.
- Rado Star Prize: As Rado is committed to the design of its watches It is also active worldwide through its Rado Star Prize competitions. These awards aim to help new designers by offering the opportunity to showcase their creativity and design to professionals.
Weaknesses of Rado – SWOT Analysis Of Rado
- Similar fake products There were numerous fake items of Rado being sold on the market. This has damaged the image of the brand that is associated with Rado watches and is an extremely negative aspect of the brand.
- less market share The Rado brand is amidst plenty of competition within the market for luxury watches and as a result, Rado has a small market share.
Opportunities of Rado – Rado SWOT analysis
- The company is expanding its product line: Since the Rado brand doesn’t have a specific style for its appearance, being able to adapt to different possibilities, there are many opportunities to increase the product range without any impact on the brand’s position.
- The New Market: The emergence of a new market for luxury goods where many potential clients can be capitalized by the business to create more business opportunities.
- Tie-up: The brand may join forces with a luxurious brand, to enhance the value of its brand. It could also tie itself to different celebrities’ events and entertainments in order to boost the value of its brand.
- Improved Product: A rise in the product’s quality can boost its potential to develop more creative products that can be more visible in the marketplace.
- joint venture in conjunction with the other Watch Companies: Rado brand is able to collaborate with other watch manufacturers to increase the scope of its activities.
Threats of Rado – SWOT analysis of Rado
- Top Competitors: The Rado brand has strong competition in the market for luxury watches. This poses a major risk for the company since the luxury watches are also manufactured by other watchmaking firms.
- Economic Change: If there is an economic downturn, people will be less likely to purchase things that are expensive. This poses a major risk to the business and it affects its revenues and profits.
- Cheap imitation from Rado Product: There are imitations of the same product made by the Rado company. People tend to buy it thinking that it’s a Rado brand, but it is they are not. It is, in reality, risky for the brand, which can lead to branding degrading too.
You May Also Like:
- Kansai Nerolac Paints SWOT Analysis
- Timberland SWOT Analysis
- Kotak Mahindra SWOT Analysis
- TNT SWOT Analysis
- Berkshire Hathaway SWOT Analysis
Conclusion
Rado became one of the revolutionary companies in the world of premium quality wristwatches. They tried to change the idea that watches are not only a desirable product for men but also for women it can be a great style statement. The Rado wristwatches are an indicator of social status and particularly for the upper class of society.
Rado’s vision of making the wristwatches a product adding and enhancing the personality of an individual in this present era is a successful one. Rado became a successful brand in the watch industry because of the liberalization of the global market and the rose purchasing power of customers. Though Rado’s unique and latest design, luxurious image, and Swiss high range manufacturer of watches is recognized for its use of scratch-proof watches and considered a pioneer in this field.
Rado has now over 470 working staff. Rado watches are obtainable in more than 150 countries and have the most important markets in Southeast Asia and Japan.
This is the SWOT analysis of Rado. Please let us know if you have additional suggestions to add.
[wp-svg-icons icon=”bubbles” wrap=”i”] Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.