How small watch brands such as MB&F and Vanguart are shaking up the industry

Max Büsser’s new watch is being allocated by lottery. His M.A.D.3, priced at 2,900 Swiss francs, had attracted 10,500 registrations by Friday morning for around 1,500 available pieces.

The watch, presented at Geneva Watch Days, looks relatively conventional with its round case measuring about 40 millimeters. Its time display is anything but ordinary: the hour appears in a window that moves across the dial, while its position also indicates the minutes. The concept comes from independent watchmaker Vincent Calabrese, who developed it for his Baladin model in 1990. Büsser’s M.A.D.3 pays tribute to Calabrese, now 82.

Büsser, the Swiss founder of MB&F, is one of the best-known figures in independent watchmaking. His futuristic Horological Machines evoke aircraft, racing cars and robots, while his round Legacy Machines reinterpret traditional watchmaking in their own distinctive way. Both collections sell for five- and six-figure sums. The more affordable M.A.D. Editions are less eccentric, but their appeal is clear from the response to the new model.

The seventh Geneva Watch Days, running through Sunday, brings together 71 brands. Unlike the Watches and Wonders fair in spring, the event focuses on independent and microbrands rather than Rolex, Patek Philippe and other major names. Bulgari, Breitling and Ulysse Nardin are among the few large manufacturers taking part.

Büsser’s success reflects the industry’s growing divide. Demand for Swiss watches is weakening overall, and export volumes have fallen to just over half their level of a decade ago. Yet some independent brands cannot supply everyone who wants their watches. At the highest end, America’s technology elite is adding momentum. Mark Zuckerberg now wears watches from exclusive Swiss manufacturers including F. P. Journe, Greubel Forsey and De Bethune. The Wall Street Journal reported that OpenAI chief Sam Altman ordered seven custom Orb watches from Geneva-based Vanguart, one for himself and six for employees. Even the basic model costs 180