The owner and CEO of Bovet reflects on the importance of independence, innovation and identity as a small, family-owned manufacture in an industry dominated by luxury conglomerates
Options: In today’s volatile world with supply-chain disruptions, how has vertical integration protected your costs, margins and ultimately your pricing?
Pascal Raffy: First, comparisons should be fair. When you examine a Bovet — movement, finishing, strap, buckle, crown — you see it may be more expensive, but it’s worth it. Doing everything in-house brings freedom to execute, and yes, it comes with a cost. But Bovet’s mission is to offer uniqueness and meaningful mechanics. Full integration is part of that logic.
Could you share an example of a specific innovation — like your patented world timer — that would have been impossible if you were limited by external suppliers’ components?
We might have achieved it without full integration, but being fully integrated gives us the luxury of speed and control. We can iterate, test, and refine in-house, and even change the aesthetics 20 times if we wish. With suppliers, you must accept their timelines, which slows reactivity. Full integration lets us build complicated timepieces that remain intuitive to use. The Récital 30, for instance, is 42mm with two pushers and a crown — simple to operate despite its complexity. It even addresses daylight-saving time with 24 rollers printed at 90 degrees to show the correct city year-round. That development took us seven years.
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In a market dominated by luxury conglomerates, why is independence essential to your competitiveness?
Competitiveness in luxury starts with identity. Our two main families — the historical “Bovet” line and the more modern “Récital” — have clear signatures. Look at a Bovet or a Récital and you immediately know what it is. Conglomerates are a fact of life across industries, but small, fully integrated maisons like ours can still be very valuable because we preserve that strong, unmistakable identity.
As the sole owner and guardian of a centuries-old legacy, what’s the greatest personal risk of that structure, and how do you manage the pressure of making long-term decisions?
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The most beautiful challenge — and positive pressure — is maintaining a team of artisans who share a passion for fine watchmaking. We have 88 artisans who live these values. Full integration is real for us, and so are our movements and finishing. The proof is five GPHG awards in the last seven years: one Aiguille d’Or, two Mechanical Exceptions, one Astronomical, and one Ladies’ timepiece. That shared commitment is everything.
Bovet has a team of 88 artisans working on their watches
How do you continue to innovate today?
Honestly, ideas come from life. During the pandemic’s endless video calls, I was constantly confused by time zones. I promised myself we would create a wristwatch that intuitively displays all time zones correctly. That led to the Récital world-timer concept. Sometimes ideas are immediate; other times they mature for years before the solution appears. That uncertainty is part of the beauty.
Who are your buyers?
They are not followers. They don’t buy because of massive ad budgets or because the neighbour wears a brand. They are opinion-makers who value quality, uniqueness in design and finishing, and true exclusivity. We craft around 1,000 pieces a year — collectors appreciate that rarity and authenticity.
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After the Récital 28 won the Mechanical Exception prize last year and the 30 is now nominated for Men’s Complication, is it fair to say this level of recognition is becoming expected?
I value humility. We simply do our best with sincerity, pushing finishing and innovation step by step and leave the rest to the experts. We’re proud of every award; since 2006, we’ve received 68 international distinctions. The goal is not to “shine”, but to endure.
The Récital 30
What are your plans through 2030?
We seek strategic evolutions, not revolutions, with more modernity and greater accessibility, without touching our exceptional quality. There’s strong demand for a more affordable Bovet, and we have ideas.
What personal values from your upbringing are reflected in the brand?
Integrity. We are honest people crafting an honest offer. Between 2001 and 2006, before we were fully integrated, we said so plainly, no complexes. Since 2006, visitors often tell me they didn’t realise the scale of our integration until they saw it themselves. Integrity means telling the truth about what you do and how you do it.
The Récital 28
Do you collect anything besides timepieces?
Carpets, especially silk Persian carpets, which I often hang on walls. I also love cars and shoes; I admire craftsmanship in every field.
Is there a place that always sparks creativity?
The Château de Môtiers. I sit at my green table, listen to the birds, watch the seasons, study planetary charts, and dream of timepieces. Orion’s Belt, with three stars aligned, reminds me of my three children. Wherever I am, that constellation centres me and sets my imagination traveling.
— As told to Samantha Chiew
