Watchmaster acquires Montres Modernes et de Collection (MMC)

As we know, the world of second-hand luxury watchmaking is changing.

15/07/2021 Montres de Luxe

The small retailers found in the main large cities of the world must now face new competition: that of large groups which, well aware of the importance of this market, have invested in this sector of activity. The latest example: the Berlin giant Watchmaster, which has just bought MMC in Paris.

The MMC brand, one million expert watches, created by Eric Hamdi in 1994 and known mainly to collectors of Patek Philippe, Audemars Piguet and contemporary or vintage Rolexes, has just been bought by a large German group, Watchmaster, specializes in pre-owned luxury watches.

MMC is a player well known to the French and especially to Parisians, for its very high-end second-hand watchmaking offer.

Indeed, for roughly ten years, this store had specialized in highly sought-after, and therefore very expensive, models, abandoning watches that were more accessible "to ordinary wallets".

MMC prices varying from 5,000 to 500,000 euros with a majority of watches above the threshold of 25,000 euros.

Link to press article

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.

Discover full story

OTHER OLMA NEWS

L'ancienne maison de caviar de Pierre Bergé change de mains

OLMA Luxury Holdings investit dans Caviar House & Prunier Group