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Watchfinder & co was created in 2002 by three friends who had no experience in the watchmaking industry but wanted to take advantage of the emergence of the web to develop a commercial activity.
They started by buying a watch which they repaired and resold. In 2010, they opened their first showroom in the City, which attracted all the city’s businessmen thanks to the exceptional models they offered. In 2018, Watchfinder & co, which at the time had around ten outlets in the UK, was bought by the Richemont Group. Since then, the second-hand watch specialist has expanded internationally with the opening of a subsidiary in France, Germany, Switzerland, Hong Kong, the United States and more recently Italy. Unlimited choices, exceptional models, retail shops around the world and manufacturer certification: Adrien Fourlégnie, head of the French subsidiary since its creation in 2019, explains the keys to the success of the world’s largest luxury watch retailer.
What are the keys to the success of Watchfinder & co and the added value of your marketplace on the watch market ?
As a pioneer in the second hand market, we have acquired an international reputation thanks to our data, our algorithm and our back office which allow us to constantly update our prices according to the market and stocks. We have also been accredited by most of the major watch brands to repair all parts. These parts, which are called “Certified Pre-Owned” (CPO) watches in international watchmaking jargon, are appraised in-house and are offered with a document attesting to their quality and a two-year guarantee. Watchfinder & co also offers a maximum purchase period of fifteen days. Having established itself as the specialist and undisputed market leader in the UK, the takeover by the Richemont group has obviously given the company an international reputation and a stronger hand. Watchfinder & co currently offers a very wide catalogue of brands with 70 brands and more than 5000 models presented on the website, ranging from €300 to €180,000. Unlike the competition, the timepieces are bought directly and not from a warehouse and we build up our stock thanks to a very large cash flow.
© Watchfinder & co
How do you view the current euphoria around second-hand luxury watches ?
The euphoria around second-hand watches is driven by a new way of living and consuming. It is a circular economy that is in line with the emergence of new markets, new players and new customers. The second-hand market is booming with double-digit growth. While the new market has reached a growth rate of 2 to 5%, ours is growing by 8 to 12%. It’s a very positive trend, and more and more people are taking an interest in it.
What are the challenges you intend to meet between now and 2025 ?
Watchfinder & co is at the very beginning of its history. We have moved into six countries in three years. This is quite significant growth, but it has been slowed down by the Covid-19 pandemic. With the help of the Richemont Group, we want to develop more strongly and more quickly in order to increase our international market share as much as possible. The competition is stronger in the UK and Asia than in Europe, so we have a boulevard to go down on a European scale. The structuring of our company and our team, which is now well established, will undoubtedly enable us to achieve these objectives. This is a promising future. Watchfinder & co represents a reversed pattern, as the service was born digitally and then developed physically. This is why, at the beginning of 2020, when everything was at a standstill during the Covid+ crisis, we were hardly affected thanks to digital, which enabled us to work properly.
If you were to invest in a second-hand watch today, what would be your criteria for making that choice ?
There are three big houses above the rest in terms of investment and affection : Rolex, Patek Philippe and Audemars Piguet. These are very popular brands, for which there are years of waiting and whose resale prices on the second-hand market are multiplied by 2, 3 or 4. Personally, I like Vacheron Constantin very much and I was lucky enough to acquire the 1921 model from the historical collection. It is an emblematic model with a particular history, still available in the boutique.
You are reading an article published in the special Geneva Watch Week 2022 issue of Luxury Journals by Luxus Plus – #3
Read also > [THE LUXURY JOURNALS] SAMY LA CRAPULE, THE DIGITAL ARTIST
Featured photos : © Watchfinder & co[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Watchfinder & co was created in 2002 by three friends who had no experience in the watchmaking industry but wanted to take advantage of the emergence of the web to develop a commercial activity. They started by buying a watch which they repaired and resold. In 2010, they opened their first showroom in the City, which attracted all the city’s businessmen thanks to the exceptional models they offered. In 2018, Watchfinder & co, which at the time had around ten outlets in the UK, was bought by the Richemont Group. Since then, the second-hand watch specialist has expanded internationally with the opening of a subsidiary in France, Germany, Switzerland, Hong Kong, the United States and more recently Italy. Unlimited choices, exceptional models, retail shops around the world and manufacturer certification: Adrien Fourlégnie, head of the French subsidiary since its creation in 2019, explains the keys to the success of the world’s largest luxury watch retailer.
What are the keys to the success of Watchfinder & co and the added value of your marketplace on the watch market ?
As a pioneer in the second hand market, we have acquired an international reputation thanks to our data, our algorithm and our back office which allow us to constantly update our prices according to the market and stocks. We have also been accredited by most of the major watch brands to repair all parts. These parts, which are called “Certified Pre-Owned” (CPO) watches in international watchmaking jargon, are appraised in-house and are offered with a document attesting to their quality and a two-year guarantee. Watchfinder & co also offers a maximum purchase period of fifteen days. Having established itself as the specialist and undisputed market leader in the UK, the takeover by the Richemont group has obviously given the company an international reputation and a stronger hand. Watchfinder & co currently offers a very wide catalogue of brands with 70 brands and more than 5000 models presented on the website, ranging from €300 to €180,000. Unlike the competition, the timepieces are bought directly and not from a warehouse and we build up our stock thanks to a very large cash flow.
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Watchfinder & co was created in 2002 by three friends who had no experience in the watchmaking industry but wanted to take advantage of the emergence of the web to develop a commercial activity. They started by buying a watch which they repaired and resold. In 2010, they opened their first showroom in the City, which attracted all the city’s businessmen thanks to the exceptional models they offered. In 2018, Watchfinder & co, which at the time had around ten outlets in the UK, was bought by the Richemont Group. Since then, the second-hand watch specialist has expanded internationally with the opening of a subsidiary in France, Germany, Switzerland, Hong Kong, the United States and more recently Italy. Unlimited choices, exceptional models, retail shops around the world and manufacturer certification: Adrien Fourlégnie, head of the French subsidiary since its creation in 2019, explains the keys to the success of the world’s largest luxury watch retailer.
What are the keys to the success of Watchfinder & co and the added value of your marketplace on the watch market ?
As a pioneer in the second hand market, we have acquired an international reputation thanks to our data, our algorithm and our back office which allow us to constantly update our prices according to the market and stocks. We have also been accredited by most of the major watch brands to repair all parts. These parts, which are called “Certified Pre-Owned” (CPO) watches in international watchmaking jargon, are appraised in-house and are offered with a document attesting to their quality and a two-year guarantee. Watchfinder & co also offers a maximum purchase period of fifteen days. Having established itself as the specialist and undisputed market leader in the UK, the takeover by the Richemont group has obviously given the company an international reputation and a stronger hand. Watchfinder & co currently offers a very wide catalogue of brands with 70 brands and more than 5000 models presented on the website, ranging from €300 to €180,000. Unlike the competition, the timepieces are bought directly and not from a warehouse and we build up our stock thanks to a very large cash flow.
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