Philippe DuBois has succeeded in raising more than CHF300,000 (£200,800) through a crowd funding initiative designed to help the Swiss watch house relaunch into the market.
The initiative was set up by Philippe DuBois’s new owner Thomas Steinemann who threw the door open to investors, allowing anyone to take a stake in the brand through packages ranging from CHF500 up to CHF10,000 (£335 to £6,700). As well as shares in the business, each investor will receive each new watch collection – the first of which will be unveiled next year under the brand DuBois et fils – at a special rate.
DuBois, which describes itself as the oldest watch factory in Switzerland, said that more than 150 shareholders from 14 different countries have already bought into the scheme, raising more than £200,000 for the brand’s repositioning plan. It also said that the scheme had delivered a huge PR boost for the watchmaker as well as cash.
Steinemann said: "We are happy about all the watch lovers who have invested in our company, and we hope that a few more will become ambassadors for our watch factory.”