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They've been around a very long time, but aren't all that well-known in the west. Company focused primarily on Eastern Europe and the Soviet bloc.
Most of the classic watch brands died in the 1970's. Their brand names were sold back when Swatch and Richemont were trying very hard to stay alive (LMVH's previous brands had other luxury brands to cross-subsidize). By the 1980's Swiss luxury watches were yuppy status symbols and the industry basically has been growing from then through 2014 (even now, with sales down so much, they are still better than a decade ago).
There are very few watch brands with consistent histories (Rolex and Seiko have been continuously operating).