Independent and Unapologetic: Ulrich W. Herzog on Oris’s Rebellious Legacy

When the quartz crisis threatened to erase centuries of watchmaking tradition in the 1980s, most brands abandoned their roots to chase digital trends. Not Oris. Facing severe corporate restructuring, Ulrich W. Herzog and Dr. Rolf Portmann orchestrated a historic management buyout in 1982, charting an independent course that would define the brand's soul. Reflecting on half a century in horology, Ulrich Herzog shared insights into the bold decisions and unwavering mindset that kept mechanical watchmaking alive. To know more about the The Hour Markers Sunday Brunch with Oris CEO Rolf Studer, click here.

The 1982 Buyout and Independence

When Ulrich  Herzog joined Oris during the unfolding quartz crisis, the company operated multiple factories across Switzerland with roughly 600 employees and massive production volumes. As market conditions worsened within their corporate group, a management buyout offered a lifeline in 1982, allowing Herzog and Portmann to take the company private and return to true independence. Historically, the brand had enjoyed strong markets in the British colonies, South Africa, and Nigeria, where local operations thrived. However, when those countries eventually ran out of foreign exchange cash reserves, Oris faced deep financial turbulence. Emerging from this crisis as an independent startup armed with a globally recognized name provided the ultimate foundation for a radical rebirth. Recalling that turning point, Ulrich Herzog noted that "We knew we had to restructure and change things, which led Dr. Portmann and me to execute the 1982 management buyout and return the company to full independence." 

The Japanese Revelation

The catalyst for Oris’s modern identity arrived during a trip to Japan shortly after the buyout. While traditional retailers were entirely focused on quartz and digital technology, Ulrich Herzog observed young buyers aged 20 to 25 gathering to listen to the mechanical heartbeat of traditional watches. Recognizing this deep emotional pull, Oris made the bold decision in 1991–1992 to produce exclusively mechanical timepieces. Although traditional retailers dismissed the move as foolish during the peak of the quartz era, Ulrich Herzog's vision prevailed. Reflecting on the skepticism he encountered, Herzog shared "Traditional watch retailers laughed at me and called me crazy for focusing on mechanical watches while quartz dominated, but I truly believed in it and it definitely paid off." 

The Evolution of Movement Manufacturing: From Historical Calibres to In-House Innovation

Historically, prior to the quartz crisis, Oris manufactured 275 of its own calibres within its own factories. However, the economic pressures of the quartz era changed that landscape, leading to a long hiatus before returning to proprietary development. Explaining this modern transition, Ulrich Herzog noted that designing a movement takes about three to four years of intensive engineering and heavy financial investment. While Oris no longer handles its own historical movement manufacturing relying instead on specialized component makers for efficiency, much like other major Swiss houses, the complete construction and architecture of these movements are developed entirely by Oris's own engineers. This enables the brand to craft distinctive complications, such as 10-day power reserves and patented non-linear indicators, that distinguish them from mass production. Highlighting this engineering philosophy, Ulrich Herzog explained that "We used to manufacture those movements in our own factory, which we don't have anymore because we have components made by component manufacturers like many other brands for efficiency, but the whole construction of this movement has been developed by ourselves."

A Global Resurgence and India's Potential

As Oris expanded across developed markets, the brand found a dynamic audience in India. Drawing parallels to China's rapid growth a decade prior, Ulrich Herzog highlights India's booming infrastructure and educated middle class. Maintaining accessible pricing around or below CHF 2,000 for core collections, Oris ensures everyday enthusiasts can acquire a Swiss mechanical watch alongside high-end statement pieces reaching CHF 6,000 to 7,000. Detailing this pricing philosophy, Ulrich Herzog explained "We intentionally keep our core collection priced sensibly around 2,000 Swiss francs to remain accessible to the middle class, while simultaneously showcasing our high-end manufacturing capabilities." 

Cultural Legacies and Leadership Advice

Over five decades, Oris has partnered with high-profile cultural icons and historic institutions, ranging from motorsport legends to legendary musicians. Among these, their long-standing partnership with the Williams Racing Formula 1 team was a cornerstone effort that brought immense confidence to the brand, anchored by memorable meetings with the late Sir Frank Williams. In the realm of music, Oris created special jazz watches honoring icons like Frank Sinatra and Bob Dylan. Sharing a humorous behind-the-scenes anecdote, Ulrich Herzog recalled trying to arrange a dinner with Bob Dylan during one of his concerts, only to have Dylan's manager decline because the musician had famously turned down a formal invitation from French President Nicolas Sarkozy, preferring to keep his company strictly tied to music. Looking back on his journey, Ulrich Herzog’s core advice for navigating industry crossroads remains rooted in courage and conviction. He said, "When major industry shifts occur, you have to be brave; never simply follow the crowd: trust your own vision and maintain an independent mind." 

Ulrich W. Herzog’s tenure with Oris illustrates the power of conviction in watchmaking. By rejecting industry panic during the quartz crisis and betting on mechanical emotion, Herzog helped safeguard a treasured craft. Today, through proprietary movements and creative collaborations, Oris proves that an independent mindset remains the ultimate advantage. To know more about the Oris Geneva Watch Days releases, click here.