Speculation is rife that the pre-owned watch market will continue to consolidate this year, with Chrono24 and Chronext both rumoured to be courting acquirers or preparing for initial public offerings.05/07/2021
This would come after two significant acquisitions in the United States in the past 12 months: Crown & Caliber by Hodinkee and Analogue Shift by Watches of Switzerland Group.
News of the latest deal broke this morning with Watchmaster, a major pre-owned specialist headquartered (like Chrono24 and Chronext) in Germany, acquiring Paris-based Montres Modernes et de Collection (MMC).
Watchmaster CEO Tim-Hendrik Meyer commented: “With our newly-established local presence, we want to accelerate this growth trend in France. I would like to particularly thank our investor OLMA who introduced us to MMC and helped to negotiate the acquisition.”
Watchmaster is the leading independent European online operator for pre-owned luxury watches. The platform embodies the current transformation of the luxury industry: 100% digital, offering buying options that fit the increased consumer consciousness through sustainable consumption as well as matching the rising demand for transparency and the shift from ownership towards use. OLMA invested in Watchmaster to help the company pursue its development plan and continue expanding its grasp on the second-hand watch market, in line with the consumption trends reshaping the luxury market.
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