Unfortunately there was a crisis that occurred in the swiss watch industry due to the increase of more and more automatic watches with battery. Many companies collapsed. The so-called Swatch was one of the watches that saved the industry, as well as Michel Jordi's ethno watch as in the picture. Some years ago Michel Jordi also had problems and he became bankrupt, although you can still buy the spare parts for the watch in the photo, and also the watch straps.
To put you in the picture a bit more, the area where I live is or was one of the main centers for watchmaking. In our town of Solothurn we even had the watchmakers school, which has now been moved to Grenchen. Watches are also made in the French part of Switzerland , Geneva and area.
I would add this is not one of those watches costing over 1,000 Swiss francs. It is not cheap, but not a luxury article.