First Dufry, then Yoox-Net-a-Porter, now Watchfinder – “another step in Richemont's strategy”

INTERNATIONAL Swiss luxury group Richemont is entering the burgeoning pre-owned watches market, following an agreement to acquire 100% of Watchfinder.co.uk Limited. Announcing the deal yesterday, Richemont described Watchfinder as the leading pre-owned premium watch specialist The privately held company was established in 2002.

It has grown organically under the stewardship of co-founder Stuart Hennell to become the leading platform to research, buy and sell premium pre-owned watches, both online and through its seven boutiques, Richemont said. Watchfinder operates a customer service centre and has around 200 employees worldwide. Richemont Chairman Johann Rupert said, ““Sixteen years ago, Watchfinder’s founders foresaw the need for an online marketplace for premium pre-owned timepieces Watch enthusiasts themselves, they established Watchfinder to provide excellence in customer experience We believe there are substantial opportunities to help grow the company further.

Today, Watchfinder operates both as an ‘online’ and ‘offline’ business in a complementary, growing, and still relatively unstructured segment of . Source