Swiss Watch Company Uses Crowd Funding to Produce New Collection

(IDEX Online News) – They say there’s wisdom in crowds, but a recent fundraising effort by Swiss watch company DuBois et fils proves there is also money. Using crowd funding, the company has collected 150,000 Swiss francs ($160,000) to subsidize its latest collection.

So far, more than 80 international watch lovers have invested in Switzerland’s oldest watch factory, Philippe DuBois & Fils SA, which has been around since 1785. In return for their money, investors will be able to buy one of the watches from the limited new collection at a discount. Interested investors can buy shares between 500-10,000 Swiss francs ($533-$10,670).

"An investment in our company is set for the long term, not a short-term profit,” said owner and CEO Thomas Steinemann. “The partners are invited to become a part of our culture, because they trust the company. Therefore, the shareholders will get a discount immediately after their investment."

Depending on the package, one or more watches can be bought over several years.

The company is also moving away from the concept of the celebrity spokesperson, relying instead on the investors to promote the brand. "Every investor has confidence in the company – and confidence is what a brand needs. This is how we spread our name in the world. Every person that wears our watches, each shareholder is a brand ambassador," said Steinemann.