One Man, a Swiss Castle & a Watch Brand

As a watch journalist, you tend to find your inbox filling up rather quickly with kind invitations to visit various brands. Some of those invites are more exciting than others, I must confess. One that really stood out to me recently was from Bovet — a brand I knew very little about, apart from the fact that their headquarters was in a castle on a Swiss hill. I was genuinely excited to accept their invitation for a manufacture visit, because at my core, I’m a watch lover and geek, and I thought there’d be an opportunity to learn something new. I wasn’t disappointed. The team was wonderful, and while most of the watches don’t quite fit my personal aesthetic, they are all impeccably finished and often beautifully complex. What struck me most during the visit, though, was the story of the owner, Mr. Pascal Raffy. While he wasn’t present during our visit, his name came up often, and the stories shared by the staff were rich and vivid. As we walked through the halls of this incredible building — part modern, part ancient — it dawned on me that Mr. Raffy, a man I hadn’t yet met, was living out the ultimate rakish dream. Here was someone who had achieved success long before entering the watch world, yet found the opportunity to acquire a brand he admired and to live in a castle, doing something he likely never imagined possible. This short piece is about a gentleman who, in many ways, embodies what we would call an “undercover rake” — Mr. Raffy, the owner of Bovet.

Pascal Raffy acquired Bovet in 2001, marking a significant turning point for the historic brand. Founded in 1822 by Édouard Bovet, the company had a rich heritage but had fallen into relative obscurity by the late 20th century. Raffy, driven by a passion for fine watchmaking and a vision to revive the brand, took control and began a process of reinvention and revitalisation.

Raffy's love for watches and design began in his childhood. He recalls, "Spending time with my grandfather, with him showing me his timepieces, really lit the collecting fire within me. I was fascinated by mechanical movements and how all these components come together for a timepiece that actually works." This early fascination led to a lifelong passion, though he never imagined owning a brand himself until the opportunity arose. Raffy's background is somewhat atypical for a watch industry executive. Born in Lebanon and raised in France, he had a successful career in law and pharmaceuticals before entering the world of haute horlogerie. "After my time in university, I became a lawyer then worked in the pharmaceutical industry," Raffy explains. His lack of formal training in watchmaking was balanced by his deep appreciation for craftsmanship, artistry, and mechanical ingenuity.

The acquisition of Bovet came as a surprise to Raffy. "I was approached to purchase the House of Bovet. I already had a number of vintage Bovets and I loved the house, so when I had the opportunity, I jumped at the chance," he recounts. Despite the challenges of being a newcomer in an insular industry, Raffy was determined to "bring the House back to its rightful position at the top of the watchmaking industry."

Under Raffy's leadership, Bovet has experienced a renaissance, becoming known for its highly complex and ornate timepieces. He has steered the brand towards creating limited edition, high-end watches that showcase exceptional craftsmanship and innovative designs. Bovet's watches often feature intricate engravings, miniature paintings, and complex movements, appealing to collectors and connoisseurs of fine watchmaking. One of Raffy's key strategies has been to maintain and expand Bovet's vertical integration. The company now controls nearly every aspect of watch production, from movement design and manufacturing to case making and dial crafting. This approach allows Bovet to maintain exacting quality standards and preserve traditional watchmaking techniques.

A significant milestone in Bovet's revival was the acquisition of its current headquarters. Raffy explains, "After I purchased the BOVET manufacture in Tramelan, the canton of Neuchatel said they had a castle for sale. I had no interest in a castle, I wanted a headquarters, but then they told me that the Bovet family had owned the castle back in the 1800s and was their family home." This historical connection prompted Raffy to purchase and renovate the castle, making it Bovet's final watchmaking atelier and headquarters. Raffy has also emphasized Bovet's historical connection to China. In the 19th century, Bovet was renowned for creating ornate pocket watches for the Chinese market. Under Raffy's guidance, the brand has revived and reinterpreted many of these historical designs, creating wristwatches that pay homage to this legacy.

Innovation has been another hallmark of Raffy's tenure. Bovet has introduced several patented technologies, including the Amadeo convertible case system, which allows certain models to be transformed from wristwatches to pocket watches or table clocks. This blend of traditional craftsmanship and modern innovation has become a signature of the brand.

Raffy is known for his hands-on approach to leadership. He is deeply involved in the creative and technical aspects of watch development, often collaborating closely with Bovet's artisans and watchmakers. His perfectionism and attention to detail have become legendary within the company and the broader watch industry. For him, being independent in the watch world means focusing on the human touch and pushing the boundaries of high watchmaking. "The industry seems to be changing into a commodities business, where volume and assembly lines are dominating. For Bovet, we focus on the human touch. You will never find an assembly line in Bovet, and that is in the spirit of the independents," he asserts.

Beyond his role at Bovet, Raffy has become a respected voice in the luxury watch sector. He is often sought after for his insights on craftsmanship, luxury marketing, and the preservation of traditional watchmaking skills. Under Raffy's stewardship, Bovet has garnered numerous awards and accolades, including multiple prizes at the prestigious Grand Prix d'Horlogerie de Genève.

Despite Bovet's growth and success, Raffy has maintained the brand's focus on exclusivity and limited production. This strategy has helped preserve Bovet's reputation for rarity and exceptional quality, appealing to a discerning clientele who value uniqueness and artisanal craftsmanship. Leading Bovet is more than just a business venture; it's a dream come true. "I owe a debt of honor to the founders of BOVET to continue what they started, to enhance their legacy. I work in the castle that was once owned by the Bovet family and I hope they would be proud of what we are doing," he reflects.

Outside of watches, Raffy values his time with family and friends, considering time itself the greatest luxury. He enjoys walks in the forest around the Bovet castle, using this time in nature for reflection and inspiration. His journey from pharmaceutical executive to watch industry luminary demonstrates the power of dedication and a genuine love for the art of watchmaking. A genuinely interesting man, who like so many leaders has had a winding journey over the years. But maybe unlike many, has found himself living his childhood dream.