Like Clockwork: Iconic Swiss Watch Brand DuBois et fils Crowdfunds via Facebook

How did a 230-year-old Swiss watch brand use crowdfunding via Facebook to raise $1.7 million from 600 people in 21 countries?

DuBoisWatchesHow did a 230-year-old Swiss watch brand use crowdfunding via Facebook to raise $1.7 million from 600 people in 21 countries?

DuBois et fils, which refers to itself as the “oldest Swiss watch factory,” offered ownership in the truest sense.

CEO Thomas Steinemann elaborated in an interview with The Gulf that was featured in the watchmaker’s press kit:

To relaunch a luxury Swiss watch brand, you need to have a long view, that it will take seven to 10 years to pay dividends and start to trade with the shares.

The shareholders get one to three vouchers, which enables them to buy one of our watches with a 50 percent discount. Now you need to be aware that the average price point is around $10,000, and all our watches are limited-edition to 99 pieces. So if somebody invested, for example 1,000 Swiss Francs ($1,049), they would receive two vouchers with a 50 percent discount, which means that finally, if someone used a voucher, they would get a return on investment of $5,000. That was the advantage of it, because it gave the shareholder an immediate return on investment.

Steinemann also discussed how diverse his company’s “shareholders” are, telling The Gulf:

The interesting thing, as well, is that more than 10 percent of our shareholder group are women, which is a big surprise for us. Normally, the luxury watch business is dominated by men. These are gents’ toys. It’s fascinating to see how different the shareholder group is.

Readers: What did you think of the crowdfunding success story of DuBois et fils?