Hublot

Hublot was founded in 1980 by Italian entrepreneur Carlo Crocco. A scion of the Binda Group dynasty, Crocco left the family company in 1976 and moved to Switzerland, forming MDM Genève. He created a watch named Hublot (French for 'porthole') featuring the first natural rubber strap in watchmaking, requiring three years of research. Despite attracting no customers on its first day at the 1980 Basel Watch Fair, the watch achieved over $2 million in sales its first year. In May 2004, Jean-Claude Biver, former president of Swatch Group's Omega division, joined as CEO, becoming a board member and minority shareholder. Under Biver, Hublot unveiled the Big Bang chronograph at Basel in April 2005. The Big Bang received the 2005 Design Prize at the Geneva Watchmaking Grand Prix. Sales grew from CHF 24 million in 2004 to nearly CHF 100 million by end of 2006. In April 2008, LVMH acquired Hublot from Crocco. The company developed in-house movements including the UNICO caliber. Hublot became official timekeeper of the FIFA World Cup in 2010 and Formula 1 the same year. Revenue reached CHF 670 million in 2023 with approximately 800 employees.