Tissot SWOT Analysis – SWOT Analysis of Tissot: Tissot, a well-known watchmaking industry, was founded in 1853 and is headquartered in Switzerland. It is a subsidiary of the Swiss Swatch Group, which is the largest watch manufacturer and distributor in the entire world. Tissot’s logo features a plus sign, which symbolizes the Swiss quality of its products and reliability. It has been in Tissot’s store since its founding.
Tissot watches can be found in more than 160 countries. They are affordable and realistic and made using advanced materials. The brand is proud of its heritage and continues to innovate. Its reputation for quality has been repeatedly acknowledged.
They are the Official Timekeeper and have been a partner in many sports, including cycling with UCI World and Tour de France, as well as basketball with NBA, CBA, and FIBA. This company uses state-of-the-art design and technology in watchmaking, which has revolutionized the way people view watches.
Tissot fun facts: Tissot was the first watchmaking brand to produce a pocket watch with a dual time zone in 1853.
About Tissot – SWOT analysis of Tissot
Company: Tissot SA
CEO: Sylvain Dolla
Founder: Charles-Félicien Tissot | Charles-Émile Tissot
Year founded: 1853, Le Locle, Switzerland
Headquarters: Le Locle, Switzerland
Annual Revenue: Swiss francs1.6 billion
Profit | Net income: Swiss francs461 million
Number of employees: 425
Products & Services: Watches| Timing devices and systems
Competitors: Ebel Watches | TechnoMarine | Corum | Breguet | A. Lange & Söhne | IWC Schaffhausen | Jacob | Breguet | TAG Heuer | Cartier | Omega | Longines | Rado | Rolex | Hublot | Patek Philippe. | Timex | Fossil Group
SWOT analysis of Tissot – Tissot SWOT analysis
SWOT Analysis Of Tissot is brand-based. SWOT Analysis of Tissot 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 Tissot’s SWOT Analysis. Below is the detailed SWOT Analysis of Tissot.
Let’s talk about Tissot’s SWOT assessment.
Strengths of Tissot – Tissot SWOT analysis
- Notable Innovations: Tissot introduced the first pocket watch with two time zones in 1853. It also created the first anti-magnetic wristwatch. It was also the first to make watches from plastic, stone, pearl, and wood. In 1999, the company also launched its first tactile watch with T-Touch technology. The technology features touch-sensitive sapphire stones that can control many functions such as barometer, compass, and thermometer. Tissot’s latest T-Touch models, such as the T-Touch Expert Solar or T-Touch Lady Solar, have 25 functions.
- Tissot collection: Tissot offers a wide range of watches for both men and women. Many love the brand’s timeless design and functionality watches. Tissot watches are of exceptional quality and attract a larger customer base.
- Ultimate Fashion Statement: The brand is a symbol of class and is considered an ultimate fashion statement by its wearers.
- Brand ambassadors: Tissot is proud to have partnered with many celebrities, including actors, cricketers, and MotoGP drivers, in order to become their brand ambassadors. This partnership has helped the brand achieve a high level of visibility.
- Customer Support: The company offers 24/7 customer service. Customers can find a service center that will service their watch if they have any questions.
- Global Presence: The Tissot brand belongs to the Swatch group, and is present in approximately 160 countries.
- Official Timing: The official timekeeping system for many sports has been Tissot.
- Large Market Segment: Tissot includes a large market section that covers segments like children, youth, women, big spenders, and budget-conscious individuals.
- Partnership with Europe’s Railway Station: Tissot is partnering with Europe’s highest railway station at 3454m above sea level.
Weaknesses of Tissot – SWOT Analysis Of Tissot
- Environment rating: In 2018, the World Wide Fund for Nature (WWF), listed Tissot’s actions to reduce the environmental and climate impacts of its manufacturing activities.
- Simple design: The brand’s design is simple, but it can be easily copied.
- Limited Market Growth: The Tissot Company has a small market share because of the highly competitive market.
Opportunities of Tissot – Tissot SWOT analysis
- Category Expansion: Tissot expands into new categories that suit the Tissot watches. There are many categories of corporate gifts.
- Emerging Economy: The emerging economy can easily tap into people with high spending habits. This new opportunity allows companies to increase their business and improve their financial situation.
- Increased Advertising: It would be a good idea to focus more on advertising in order to improve brand awareness.
- Massive Sale of Watches: It is estimated that nearly 34 million watches are sold in the market. This presents a tremendous opportunity for Tissot to produce and sell these watches.
Threats of Tissot – SWOT analysis of Tissot
- Large Competitors: Tissot is up against the tough competition in the watch business. There are many products available from the competitors, and they come in many different designs and categories.
- Fake products by Tissot brands: The market is prone to fake imitations and duplications of Tissot watches. This causes it to lose its brand image.
- Different Government regulations: The business is affected by a variety of government regulations. These regulations often concern imported or luxury goods. This is a grave threat to the company.
- Use of mobile phones for watches: Watches can be replaced by mobile phones and other digital devices. This poses a serious threat to the business.
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