Richemont Buys Pre-Owned Watch Merchant Watchfinder

Richemont Buys Pre-Owned Watch Merchant Watchfinder

Postby koimaster » June 1st 2018, 11:09pm

UK-based pre-owned watch retailer Watchfinder has just found a new owner, with Richemont having acquired 100% of Watchfinder.co.uk Limited. Set up in 2002, Watchfinder owns seven stores, a significant online sales platform, as well as its own service centre. In the year to March 2017, Watchfinder reported sales of £86m, or about US$115m.

While pre-owned watch dealers of scale exist in most major markets, Watchfinder is unusual in having a large, in-house service centre. Over half of its 200 or so employees work in after-sales service, which is primarily about touching up and servicing pre-owned watches before they are sold. The expense of that operation is likely one reason why Watchfinder’s net margins in the most recent year was about 6%, comparable to that of a traditional, full service watch retailer.

http://watchesbysjx.com/2018/06/richemo ... inder.html
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Re: Richemont Buys Pre-Owned Watch Merchant Watchfinder

Postby MKTheVintageBloke » June 2nd 2018, 6:58am

That's a pity, the Watchfinder videos on YouTube didn't blow - now they probably will.
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