Swatch is a Swiss watch company founded in 1983 by Ernst Thomke, Elmar Mock, and Jacques Müller. It is a subsidiary of the Swatch Group. The Swatch product line was developed as a response to the "quartz crisis" of the 1970s and 1980s, in which inexpensive, battery-powered, quartz-regulated watches were competing against more established European watchmakers focused on artisanal craftsmanship producing mostly mechanical watches.