In 1848, Louis Brandt opened a watch assembly workshop in Switzerland and in 1877, his son joined him to found Louis Brandt & Fils. By 1889, it had become the largest watch manufacture in Switzerland producing more than 100,000 watches, and by 1903 the company would make 240,000 annually. In 1894, the company created the Omega 19 calibre with interchangeable parts, a design that would eventually be used as a standard by watch manufacturers everywhere. That same year, the Omega name was registered. Less than 10 years later, the success of the "Omega" name led to it being adopted as the sole name for all the watches of the company. Though the commitment to innovation continued, Omega struggled amidst the recession of the late 1970s. It was purchased by what is now known as the Swatch Group.