The Swiss maker of complicated movements for brands like Hublot, Concord, Bell & Ross and others was being praised by the industry and press reports for its phenomenal 200% annual sales increases some how just perished. Or did it? Like many companies growth, production and quality doesn't necessarily mean you'll get paid in cash-money. BNB was being paid with IOUs' and with their own bills to pay for... well they could keep their heads above water.But it's not entirely a bad story because Hublot hired 30 to 40 watchmakers from BNB including Matthias Buttet, which was a founding father and now heads Hublots' new “Haute Horlogerie” department to make complicated movements for the brand.
Hublot also purchased BNBs' machines and some $2 million of finished and unfinished movements so it would not be cut short during the transition.
[source WatchTime]
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