Swatch is a brand name for a line of wrist watches from the Swatch Group, a Swiss conglomerate with vertical control of the production of Swiss watches and related products. In 1982, Swatch was conceived and it was introduced to the market in Switzerland in March 1983. The first meaning of the name "Swatch" was "Second Watch" - because the new watch was introduced with a new concept of watches as casual, fun, and relatively disposable accessories. However later it was conceived as the contraction of Swiss (Made) Watch: "S'Watch", soon became "Swatch" as it is today perceived worldwide. The Swatch Group is the world's largest watch company, and the Group has accelerated its acquisition of Swiss luxury brands in recent years. The Swatch Group owns the following brands: Breguet, Blancpain, Jaquet Droz, Glashütte Original, Léon Hatot, Omega, Tiffany & Co., Rado, Longines, Union Glashütte, Tissot, Calvin Klein, Certina, Mido, Pierre Bal-main, Hamilton, Flik Flak and Endura.