NEWS: Richemont Purchases Watchfinder

Richemont the prominent Swiss luxury goods holding company has now bought out the esteemed pre-owned watch dealer Watchfinder!

Watchfinder & Co is an online based retailed of “second-hand” watches based in the United Kingdom and formed in 2002. Since then it’s had major success and 2015 estimated a sale total of 155 million pounds! Along with its impeccable customer service and social media presence, one thing that has really put it above all others is it's in-house service center. This allows the customer to know they are getting a freshly serviced watch every time, as well as being able to fix any customer relations problems in-house. As well as being a major site driven company they also have 7 stores throughout the United Kingdom.

This is a big move for the Richemont group and I think a great one, just as Johann Rupert a Chairperson for Richemont “Watch enthusiasts themselves established Watchfinder to provide excellence in customer experience” and he's damn right! Richemont has been snapping up major players left and right, early this year they picked up Mr. Porter a Luxury lifestyle brand from shoes to watches. It will be amazing to see what Richemont has in store for Watchfinder, Rupert is also stated saying “ We believe that 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 the industry,” in the BusinessReport. Showing major plans for the company.

What do you think about this purchase? Is it good for Watchfinder and Richemont alike? And is it good for the consumer and Watchfinder’s already existing customer base? Do you have any stories? Let us know!