Ever-ticking Timex Watches
Timex watches came into being after World War One. Timex was only one of three American watch firms that successfully transitioned to wristwatches at that time. The other two were Elgin and Hamilton.
The U.S. based Waltham wristwatch manufacturer tried to survive but was poorly managed. What Waltham failed to do that Timex did so well was to spend money on new equipment that made the more stylish and eminently popular smaller watches possible. At the end of the First World War about a dozen American watchmaker firms existed. Other than Timex, Hamilton and Elgin, though, the others had to merge, let themselves be bought out, relocate overseas or close their doors.
One the U.S. 1929 stock market crash heralded in the Great Depression watches were a luxury rather than a necessity. All watchmakers felt that financial pinch, but those that weren't producing wristwatches failed to recover. Timex watches, as well as other brands and manufacturers were simply at a standstill, trying to survive.
World War II was the scene of wartime watch production, with Americans buying Timex and other watches in droves.
By the start of the 1950's Switzerland was in its wristwatch heyday, turning out watches that wound automatically, chronographs and wristwatches that displayed both the day and date. The U.S. firms had fallen behind on these innovations due to exhausted financial resources. They struggled to make the transitions that the Swiss were becoming famous for. American as well as British response to this Swiss advancement was to lobby their legislators for import restrictions and increases in tariffs.
The only U.S. watch firm that survived this Swiss onslaught of innovation was Timex with its inexpensive and disposable watches. While some more prestigious watchmakers scoffed at the Timex products, Timex watches were the few that were turning a profit for their companies. With its disposable watches concept, Timex could now seal the case of the watch. While no one could open it for repairs, it also prevented dust from settling inside the watch. While Timex watches have no jewels, which means they don't last as long as watches that do, they're also considerably more rugged as a result. That's how the Timex watches slogan, "Take a licking and keep on ticking" came about.
The second American company to expand around that time was Bulova. During the 1960's Bulova introduced a revolutionary timepiece, its Accutron electronic watch. This Bulova, instead of the typical rotating balance wheel to keep time, used a brand new concept of a tuning fork. This watch became the highly popular high-end wristwatch product in the U.S., while Timex watches were the ever-popular lower cost timepieces.