Pascal Raffy acquired Bovet 1822 in 2001, rescuing the brand from a period of commercial difficulty and returning it to sole private ownership for the first time since its founding. He is one of the very few principals in Swiss watchmaking who owns a manufacture outright, without institutional investors, holding company shareholders, or the strategic constraints that come with either. This independence has given him an unusual freedom to make decisions on long timescales, invest in craft infrastructure that has no short-term commercial justification, and pursue the kind of watches that interest him rather than the watches the market most readily demands.

Raffy's most significant material contribution to the brand has been the acquisition and restoration of the Château de Môtiers — a historic villa in the Neuchâtel village of Môtiers that the Bovet family had occupied from 1835 and that the Swiss state had held since 1957. The restoration of the château as both a working manufacture and a preservation project reflects Raffy's philosophical alignment with Bovet's heritage: that the objects produced in a place carry something of that place within them, and that heritage is worth maintaining materially rather than simply invoking rhetorically.

Under Raffy's ownership, Bovet has produced some of its most technically ambitious and aesthetically distinctive work, including the Récital series of complication watches, the development of the Amadeo convertible case system, and several pieces — among them the Récital 26 Brainstorm and Récital 28 Prowess 1 — that sit at the outer limits of what a wristwatch can contain. He has positioned the brand not as a competitor to the Swiss giants but as an alternative to them: for collectors who want something made with total commitment, in total independence, for reasons that have nothing to do with market research.